Crypto Wins A Key Battle in its War with the SEC
The Breakdown
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The SEC Investigates Filecoin
Filecoin is intended to function as a decentralized file storage system which utilizes the unused hard drive space of participants in the network. The SEC investigated Filecoin five years ago and did not pursue any charges related to selling an unregistered security. Grayscale no doubt previously obtained advice from high paid securities lawyers that FIL was not a security before filing the registration statement, but just because there is so much clarity, they formed a different view than the SEC.
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