Grayscale, Disclosing SEC Queries, Says Cryptos Stellar, Zcash, Horizen (XLM, ZEC, ZEN) May Be Securities

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coindesk.com

Though relatively minor trusts, any uncertainty surrounding this trio’s legal status – namely, whether they are securities – underscores the stakes of Grayscale’s regulatory gamble. Its trust business presumes these cryptos are not securities; if it determines otherwise, it says in the filings, it may have to pull the plug on the trusts.