Published on June 14th, 2018 | by bitcoin0
SEC Director of Corporate Finance says that Ether is not a security
In an informal statement made at Yahoo Finance’s All Market Summit: Crypto, William Hinman, the United States Securities and Exchange Commission (SEC)’s director of corporate finance, indicated that the regulatory agency has no plans to deem ether a security.
“… 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,” Hinman said in a speech at the summit.
Along with ether, Hinman stated that the SEC would not classify bitcoin as a security, either.
Rather, both cryptocurrencies function similar to commodities like gold, silver or oil, the agency believes.
But not all coins are created equal, Hinman expressed in his speech, and the SEC’s leniency on crypto’s top assets won’t relieve tokens from scrutiny.