"SEC considers Filecoin a security, requires Grayscale to withdraw fund registration"
Grayscale said that on May 17, the U.S. Securities and Exchange Commission (SEC) asked it to withdraw the registration statement for its Filecoin Trust.
The SEC has informed Grayscale that Filecoin's FIL token meets the definition of a security under relevant legal regulations. This means that Grayscale's Filecoin Fund is an investment company. Grayscale was asked to "immediately" withdraw its registration.
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Grayscale said that on May 17, the U.S. Securities and Exchange Commission (SEC) asked it to withdraw the registration statement for its Filecoin Trust.
The SEC has informed Grayscale that Filecoin's FIL token meets the definition of a security under relevant legal regulations. This means that Grayscale's Filecoin Fund is an investment company. Grayscale was asked to "immediately" withdraw its registration.
#feedfeverchallenge