Cryptocurrency trading company Cumberland has stated that it will terminate Filecoin (FIL) trading, citing regulatory reasons.
According to The Block, Cumberland sent a statement to its customers on May 30, due to the fact that the US Securities and Exchange Commission (SEC) considers Filecoin as a security. over the counter (OTC) FIL with counterparties in the market buy and sell He said he would end it.
Market maker, last trading date 1 June 19.00 CET all orders given up to this time usual procedures stated that it will be finalized in
Why did Cumberland stop trading Filecoin?
The main reason for Cumberland to back down on Filecoin is thought to be the SEC. The SEC recently issued a warrant under the securities laws of the FIL. securities FIL-based investment product of crypto investment products company Grayscale. Filecoin Trust your application to withdraw he wanted.
The native token of the decentralized data storage service Filecoin, according to Coinecko data ELEPHANT, since the news was announced on 30 May $4.86 from the level $4.66 falling back to the level It fell 4.11%. FIL, as of writing $4.66 traded at the level.