The Filecoin Foundation has refuted the U.S. Securities and Exchange Commission’s (SEC) assertion that its FIL token is a security. Over the past decade, thousands of people around the world have contributed to the open source project, creating a decentralized, efficient and robust foundation for humanity's most important information, the foundation said. This includes hundreds of organizations and teams building on the network, thousands of storage providers, and 13,000 Github contributors building the foundational layer for the next generation of the web.
Coinworld previously reported that on May 17, Grayscale stated that the SEC required it to withdraw its registration statement for the Filecoin Trust because the token met the definition of a security. SEC Chairman Gary Gensler has insisted that all digital assets other than Bitcoin are securities, highlighting breaches by crypto firms.
Coinworld previously reported that on May 17, Grayscale stated that the SEC required it to withdraw its registration statement for the Filecoin Trust because the token met the definition of a security. SEC Chairman Gary Gensler has insisted that all digital assets other than Bitcoin are securities, highlighting breaches by crypto firms.