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The world of digital currencies has been hit with another shockwave as the U.S. Securities and Exchange Commission (SEC) enters yet another dispute over the classification of a major cryptocurrency.
The regulator has asked Grayscale to withdraw its application for a Filecoin Trust product, saying its underlying asset "meets the definition of a security."
According to the SEC, Grayscale's Filecoin Trust's underlying asset, Filecoin (FIL), should be classified as a security under federal securities laws. The regulatory body's viewpoint has sparked a dispute, as Grayscale holds a differing opinion on the matter.
Grayscale said May 17 that the U.S. Securities and Exchange Commission (SEC) asked it to withdraw the registration statement for its Filecoin Trust. The SEC told Grayscale that Filecoin's FIL token meets the definition of a security under the relevant laws.
The United States Securities and Exchange Commission (SEC) continues to take action in the cryptocurrency
The SEC said Grayscale has to withdraw its Filecoin Trust application because FIL is an unregistered security.
The SEC said Grayscale has to withdraw its Filecoin Trust application because FIL is an unregistered security.
The U.S. Securities and Exchange Commission (SEC) asked Grayscale to withdraw its application to launch a Filecoin Trust product, the company revealed Wednesday.
Securities and Exchange Commission staff say they believe Filecoin meets the definition of a security.
The latest assessment of the Filecoin price analysis indicates a bearish trend as the cryptocurrency faces yet another decline. Following a downward trajectory for two days, the price has now dropped to $4.42.
These are the best crypto coins for maximum ROI as they will likely deliver multibagger returns during the next rally.
Bakkt will delist the majority of its previously supported cryptocurrency tokens, The Wall Street Journal reported May 12. Delisting 25 cryptocurrencies Bakkt will specifically delist 25 of the 36 assets that it once supported through its recently acquired subsidiary Apex Crypto.
Intercontinental Exchange-owned Bakkt discontinued its consumer-facing app in February as it shifts away from retail
Although the crypto market has declined in the near term, these three cheap cryptos to buy on the rebound have substantial potential.
Filecoin (FIL) price has come under pressure in the past few weeks as concerns about the platform continues. FIL dropped to a low of $5.26, which is about 44% below the highest point this year.
The recent Filecoin price analysis shows that the asset has been on a bullish impulse as its price surged by 0.59% over the past 24 hours to hit $5.30 at press time. The past few hours have been highly encouraging for the buyers, as the price glided past the $5.20 support level with relative ease.
Filecoin price analysis shows that the digital asset is currently in a downtrend as it has failed to break out of the $5.53 resistance level. The price has also been trading in a range between $5.27 and $5.33 for the past few weeks, with no signs of a strong breakout.
The latest Filecoin price analysis shows an uptrend in the price action for the FIL/USD pair, with prices rising from around $5.45 all the way up to the $5.66 level. FIL opened its trading session at the $5.64 level before the bears took control pushing the price down to the current level of $5.
Filecoin is challenging Amazon Web Services (AWS) through the launch of its Filecoin Web Services (FWS) project.
The Filecoin price analysis shows a drop in value today, but the bearish momentum is not threatening at the moment. As market selling pressure increased during the morning, the price fell to $5.38.
Google Cloud and Polygon Labs have announced a strategic partnership. Meanwhile, Filecoin has announced its own cloud service plans.
Filecoin price analysis shows signs of an uptrend today as the buying momentum is seemingly intensifying. The price covered an increasing movement during the day, as more buyers are investing in cryptocurrency.
Prior to the launch of the FWS, the protocol launched its Filecoin Virtual Machine Compatibility which supports smart contracts.
