Grin has not been named in documents by the US SEC as a security

Mostly because they’ve never heard of it, but also because it has no ICO, premine, or dev tax, so it’s not one! Rejoice


Can you share which documents you’ve read?

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No it was just some list on /r/cryptocurrency, something to do with Coinbase or Binance actions, specifying coins listed by them as being securities.

Here it is

If Bitcoin is considered a commodity, then Grin should be no less so, and perhaps even more so.
Its pure linear emission makes it much less suitable for speculation and/or investment, and there is explicitly no expectation of profit (aka number go up).


Well Grin the coin itself is not bootstrapped on an investment of money like ICO PoS coins are generally. It is an investment of energy (proof of work).

It does not meet the legal definition of common enterprise: ( In the context of an investment contract, a "common enterprise " is defined as an enterprise in which the fortunes of the investor are interwoven with and dependent upon the efforts and success of those offering or selling the investment or of third parties [] ) .

There are no “promise of profits” by issuers, firstly the issuance is decentralized via block rewards and secondly comes with no profit guarantee as the individual users are solely responsible for any trading of those rewards they may do.

Since we do not meet the above three qualifications I believe it is irrelevant as to whether or not Grin is advertised by third parties.

Got the qualifications from here:


Money is not investment for sure.
Time is the best investment in Grin.
For the tech =)

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Someone figured out that to pick out all the named coins in the suit, the SEC simply picked to use the first page of tradable coins on Explains why they’d leave a blatant case like ATOM off of there and the list seemed so random.

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But they left Ether off of the list as well?

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I believe they’ve commented on ethereum in a non-official manner saying both it isn’t at one point, and then later Gensler said not necessarily. I think when ETH’s time comes they’ll just go straight at the Ethereum Foundation like they did with Ripple and XRP instead so they want to keep those cards close to the chest.

Good catch, I did miss that not being included.

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