crypto at a glance SEC Official Says Bitcoin And Ether Not Securities
Bitcoin and its peers strongly gained Thursday after a top regulator said Bitcoin and Ether, the two leading cryptocurrencies in that order, cannot be treated as securities, but some initial coin offerings could be. "When I look at Bitcoin today, I do not see a central third party whose efforts are a key determining factor in the enterprise," William Hinman, director of the division of corporation finance at the US Securities and Exchange Commission said in a speech at the Yahoo Finance All Markets Summit: Crypto in San Francisco on Thursday. Read more...
The SEC's point man on cryptocurrencies and initial coin offerings (ICOs) says that bitcoin and ether are not securities but that many, but not all, ICOs are securities and will come under the regulatory control of the SEC and relevant securities laws.
"Central to determining whether a security is being sold is how it is being sold and the reasonable expectations of purchasers," William Hinman, head of the Division of Corporation Finance at the SEC, said in a speech at the Yahoo All Markets Summit: Crypto conference in San Francisco.