Grayscale did not exclude the classification of ZCash, Stellar and Horizen as securities

Grayscale Investments management https://gagarin.news/ experts have admitted that Zcash cryptocurrencies (ZEC), Stellar (XLM) and Horizen (Zen) can be classified as securities. About this writes Coindesk with reference to the organization’s documents.

According to the publication, Grayscale officers contacted corporate finance and law enforcement department . They were interested in the analysis of the company’s investment products based on ZEC, XLM and Zen in the context of securities legislation.

According to documents published by Coindesk, Grayscale admitted that each of these assets “can currently be security” or “in the future can be recognized as security by decision of the Sec or the Federal Court”.

Paper opened by the publication include the 2022 dated May-August. In earlier documents, the company emphasized that the regulator did not provide recommendations regarding the classification of the assets under consideration.

As of August 26, 2022, the total amount of assets running Zcash Trust, Stellar Lumens Trust and Horizen Trust is estimated at $ 39.11 million. For comparison: the number of the largest trust of the company is Bitcoin Trust – $ 13.14 billion.

Grayscale Investments and Coindesk is part of the Empire Barry Silbert Digital Currency Group.

Recall that in July, the US authorities arrested a former product of the Coinbase cryptocurrency exchange, Ishan Vakhi. He was accused of fraud using insider trade.

SEC filed a lawsuit against the suspect with similar theses, but emphasized that we are talking about fraud with securities.

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