U.S. SEC Director of Corporate Finance, William Hinman announced on the Thursday, the 14th of June 2018, that the SEC will not be classifying Bitcoin and more importantly Ethereum as a security.
There has been large uncertainty in the market regarding Ethereum and the danger that it might be labeled a security at some point in the future. This seems to know be settled as he stated that the main reason was that Ethereum is a decentralized network. Hinman furhter said that there is no 3rd party taking profit off of it and that the SEC see it more like a commodity like gold and silver.
"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.ICO’S AND CENTRALIZED NETWORKS
It was not all good news as the SEC head did indicate that not all ICOs would be classified as securities but that many might be in the future. This means that there will be somcontinue reading →