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TechFlow reports that the Filecoin Foundation has rejected the SEC's claim that the FIL token is a security, stating that FIL is a decentralized peer-to-peer network for file storage and not a security.
However, SEC Chair Gary Gensler maintains that all digital assets aside from Bitcoin are securities, and emphasized violations by crypto companies.
The Filecoin Foundation has rejected the SEC's assertion that the FIL token should be classified as a security, stating that FIL is part of a decentralized peer-to-peer network for file storage and is not a security. However, SEC Chair Gary Gensler maintains that all digital assets aside from Bitcoin are securities, and has emphasized violations by cryptocurrency companies.
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