SEC: "Ethereum, in its current state, is not a security"

One of the high-ranking officials of the Securities and Exchange Commission (SEC), said that the first capitalization of altcoin - Ethereum (ETH), is not a security. This information was voiced by William Hinman, CFO of the SEC.

“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's assertions that the cryptocurrency is sufficiently decentralized to refer it to securities.

Note that in May, the WSJ published a news report, which said that Ethereum is in a dangerous "gray zone" in the eyes of US regulators. Referring to sources who are familiar with this issue, the WSJ report showed the first distribution of ETH in 2014, when the fund collected about 18 million US dollars in the first stage of the ICO. After that, the proceeds from the ICO were used to develop the Ethereum platform, which caused serious investor fears.

Last week, the SEC chairman Jay Clayton said that in his opinion, the Bitcoin (BTC) is not related to securities, as it is aimed at replacing the fiat money. At the time of writing the news, the ETH cryptonyms traded at a price of $ 506. Thus, over the past 24 hours, the cost has grown by 4%.

#ETH, #SEC, #Ethereum