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Author Topic: [14-06-2018] SEC Asserts Bitcoin and Ethereum Not Securities  (Read 21 times)
Alex.Alt
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June 14, 2018, 09:38:52 PM
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SEC Asserts Bitcoin and Ethereum Not Securities
William Hinman, Head of SEC’s Financial asserts that bitcoin and Ethereum are not Securities. The statement was made at the Yahoo Finance All Market Summit: Crypto in San Francisco on Thursday, June 14...
https://gtecheek.com/sec-asserts-bitcoin-ethereum-not-securities/
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June 14, 2018, 09:47:36 PM
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so we finally have some clarity on ETH!

good news for the foundation and also for investors. i feel like the ICO has always been sort of a black cloud hanging over it, with everyone half-expecting the SEC to act against the foundation.

here's a better source for the story: https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not-securities-but-some-cryptocurrencies-may-be-sec-official-says.html

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Hinman specifically said that bitcoin is not a security because it is decentralized: there is no central party whose efforts are a key determining factor in the enterprise. In addition, ether is also not a security because the ethereum network is also decentralized.

Hinman did not address the securities status of other cryptocurrencies, notably ripple (XRP), which is the subject of a lawsuit alleging that it is a security, noting only that, "Over time, there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required."

Regarding ICOs, Hinman also acknowledged that some digital assets could be structured more like a consumer item than a security, particularly if the asset is purchased for personal use and not intended as an investment. He seemed to imply that these types of offerings — an investment in a book club, or a golf club membership, for example — were likely not securities.

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