SEC Director Announces Ether as Not a Security

SEC Director Announces Ether as Not a Security

The Director of the SEC’s corporate finance division, William Hinman announced today at a Yahoo Finance All Markets Summit for Crypto, stated that ether is currently not structured as a security and will not be regulated as one.

Hinan states “when we think about how ether is operating today, we see a highly decentralized network. This is not the type of centralized actor that categorizes security offerings. In its current state we don’t see any value in regulating it.”

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He also noted that ether was initially issued by decentralized networks which had no controlling party. Assets originally sold as a security have the potential to lose this title down the road.

In a previous remark by SEC Chairman Jay Clayton had stated that cryptocurrency like Bitcoin were not securities. This is an incredible step forward regarding the allowance of ICOs operating and registering without further implications of judicial bans.

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