NBA Dallas Mavericks owner Mark Cuban commented on a recent tweet regarding the US SEC calling Filecoin (FIL) a security and sent a letter to Grayscale on the issue.
One possible scenario for cryptocurrency issuing platforms, Cuban said, is that they release the entire token supply without keeping a portion as a treasury. The issued tokens should be used to provide liquidity using DeFi, and the original entity that issued the tokens should be dissolved.
In this case, he argues, “true decentralization” exists, and regulators such as the SEC won’t be able to “shut down the token,” accusing it of being a security, as they do with XRP, FIL, and other cryptocurrencies Same.