SEC Director Believes Ether (Today) Is Not A Security


At Thursday’s Yahoo Finance summit on cryptocurrency, the director of the SEC’s Division of Corporation Finance, William Hinman, delivered remarks entitled «Digital Asset Transactions: When Howey Met Gary (Plastic).«Today, some publications latched onto Hinman’s statements regarding Ether, the second largest cryptocurrency by market capitalization (behind bitcoin).

«Putting aside the fundraising that accompanied the creation of Ether, 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,» he said. «And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would seem to add little value.»

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