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Author Topic: [2018-06-07] SEC Chair on what is a Security ( ICOs like ETH ... )  (Read 39 times)
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June 07, 2018, 03:01:03 PM
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https://www.cnbc.com/video/2018/06/06/sec-chairman-cryptocurrencies-like-bitcoin--not-securities.html?play=1

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June 07, 2018, 09:23:45 PM
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The interviewer was great. He really pushed for the answers we want. Too bad Clayton was cagey and rehearsed. He really only confirmed that 1) BTC is not a security and 2) ICOs sold as investment schemes with an expectation of returns are securities. We basically already knew that.

More than anything, I'd like to know whether POW or POS altcoins, especially those with genesis block ICOs like ETH, NXT, etc. might be deemed securities. On that front:

"What about Ether?"
"I'm not gonna comment on specific crypto-assets..."

It sounds like the general script for defining securities vis-a-vis cryptocurrencies is, "am I giving you my money for you to go off on a venture?" Well, how does that work when the venture results in a decentralized platform? What if there is no expected ROI -- where funders are paying for the product, not a hypothetical return?

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