SEC not consider Ethereum and Bitcoin as securities

Posted 15 June, 2018

The US Securities Exchange Commission is not going to classify Ethereum as securities.

The SEC has strict position towards ICO projects, especially taking into account soaring investments into different blockchain projects reaching practically $14 billion. As the authority believes every coin represents a result of the ICO and should be considered as securities and receive corresponding regulation.

In fact, such statement of the head of corporate finance department at SEC, William Hinman, supported the crypto market. 

At the same time, the official said during the conference in San Francisco that Ethereum might not classify in that way, adding:

"Based on my understanding of the present state of ether, the ethereum network and its decentralized structure, current offers and sales of ether are not securities transactions."

Nevertheless, he stated that assets like Ethereum and Bitcoin show more features of goods, so he probably meant that they should be regulated by CFTC.

Earlier, Jay Clayton, the head of SEC, said that Bitcoin was not securities. He commented that Bitcoin could replace the dollar, yen or euro, so we were unable to classify it as securities.

William Hinman had also mentioned Bitcoin in his message:

"The network on which Bitcoin functions is operational and appears to have been decentralized for some time, perhaps from inception. Applying the disclosure regime of the federal securities laws to the offer and resale of Bitcoin would seem to add little value."

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15 June, 2018 17:04

← Crypto market falls into disarray with announced project in Chongqing (China)

The Economy and Information Committee in Chongqing (China) has recently released on its website the list of measures for the promotion of the blockchain in the region, including blockchain ecosystem and digital exchange platform, which confused the market. Specifically, the market believed that this a Beijing-backed initiative to set up a crypto exchange.

Crypto market falls into disarray with announced project in Chongqing (China)

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15 June, 2018 14:52

Israel company considers wage payments in bitcoin →

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Israel company considers wage payments in bitcoin
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