• December 5, 2023


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Grayscale: The SEC Believes Filecoin Could Be Considered a Security

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The SEC staff has sent a comment letter to Grayscale Investments, stating that they believe Filecoin “meets the definition of a security under the federal securities laws.”

Additionally, the staff has requested the withdrawal of Grayscale’s registration statement for the Filecoin Trust.

Grayscale has responded by expressing their disagreement with this characterization, noting that the staff’s opinion does not reflect that of the SEC, who vote on enforcement actions based on staff recommendations.

Grayscale has further stated that they are intending to respond to the SEC staff and explain the legal basis for their position, but cannot predict whether the SEC will be persuaded by their argument.