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Grayscale Says XLM, ZEC, ZEN May be Securities
Summary: According to coindesk, Grayscale Investments has been fielding questions from the U.S. Securities and Exchange Commission (SEC) over the firm’s “securities law analysis” of tokens in some of its less-popular crypto trusts. ZEC, ZEN and XLM “may currently be a security, based on the facts as they exist today,” Grayscale said in recent, little-noticed filings. ...
According to coindesk, Grayscale Investments has been fielding questions from the U.S. Securities and Exchange Commission (SEC) over the firm’s “securities law analysis” of tokens in some of its less-popular crypto trusts. ZEC, ZEN and XLM “may currently be a security, based on the facts as they exist today,” Grayscale said in recent, little-noticed filings.
ZEC, ZEN and XLM combined for only $40 million of Grayscale’s roughly $18.7 billion assets under management from funds and trusts, making them small outposts in an empire that itself used to be far larger. Grayscale held around $60 billion amid last November’s market peak, before the value plummeted with the rest of the crypto markets.
Another addition in the Aug. 16 filings: Grayscale “has received a memorandum regarding the status of [ZEN, ZEC and XLM] under the federal securities laws from its external securities lawyers.”
By Amy Liu
Tags: Crypto,Grayscale,securities
Link: Grayscale Says XLM, ZEC, ZEN May be Securities [Copy]
