Grayscale Advised by SEC to Withdraw Filecoin Trust Proposal, Raising Questions about Asset Classification

In a recent surprising development, Grayscale Investments has been advised by the U.S. Securities and Exchange Commission (SEC) to withdraw its proposition for a Filecoin Trust. This caution stems from the SECs perspective that Filecoin, the trusts underlying asset, could potentially be categorized as a security under federal law.