The U.S. Securities and Exchange Commission stated in a lawsuit filed late Wednesday that FTX’s exchange FTT token was promoted as an investment contract and is a security, a claim that is certain to have a significant effect on the sector. SEC Calls FTT Token a Security The SEC complained that any value gain in FTT would enrich owners of FTT equally and in exact correlation to their FTT holdings. If interest in trading on the FTX network rose, demand for the FTT token may grow, the SEC noted in its complaint. The substantial token distribution to FTX motivated the The post SEC Identifies FTX Exchange’s FTT Token as a Security appeared first on Cryptoknowmics-Crypto News and Media Platform .
