Coinspeaker
Filecoin Foundation Lashes Out at SEC for Classifying FIL as Security
Earlier this week, the US Securities and Exchange Commission (SEC) classified the cryptocurrency Filecoin as a security and even asked asset manager Grayscale to pull up their application for the Grayscale Filecoin Trust. However, Filecoin has rejected the observation from the SEC adding that FIL was not a security. The Filecoin Foundation described the blockchain network as “a decentralized, peer-to-peer network for storing files”.
Is FIL a Security?
In an email statement to the crypto news publication CryptoSlate, Filecoin noted:
“Over the last decade, thousands of people around the world have contributed to this open-source project to create a decentralized, efficient, and robust foundation for humanity’s most important information. That includes hundreds of organizations and teams building on the network, thousands of storage providers, and 13,000 Github contributors, building a foundational l
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