Officially: Bitcoin and Ethereum are not securities

The SEC decided on its position on these cryptocurrencies.

15.Jun.18 7:39 AM
By Jeff Bannister
Photo Toinnov.com

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Officially: Bitcoin and Ethereum are not securities

Head of the Department of Corporate Finance of the United States William Hinman said that bitcoins and air are not securities and the corresponding law will not apply to them. This is reported Bitnotovosti.

William Hinman during the Yahoo Finance's All Market summit noted that representatives of the Securities and Exchange Commission (SEC) had already concluded that the cryptocurrency is different from the securities and does not meet the criteria prescribed in the law. Therefore, the Regulator will not change the existing law on securities but adopt current market rules. Thus, it can be said that a separate proposal will be passed concerning the crypto-currency regulation. The SEC took a similar position concerning the initial placement of tokens (ICO).

However, during the speech, William Hinman spoke only about bitcoins and others and did not say anything about Ripple coins, which are more like securities. Actually, because of this, Ripple filed a class action lawsuit in court.

Specialists note that in case of recognition of bitcoins and ethers by securities, panic would begin in the market. Nevertheless, the words of William Hinman led to an increase in the rates of сryptocurrency.

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