9 months ago

At Yahoo Finance’s All Market Summit: Crypto in San Francisco, the U.S. Securities and Exchange Commission Director of Corporate Finance William Hinman said that they would not be classifying ether or bitcoin as securities.

Hinman claimed that the SEC will not be altering cryptocurrency and digital asset rules, but rather would be applying them. Previously, bitcoin and ether may have been offered as securities (like shares of a company), which would have required registration, but a consensus has emerged that they are more similar to commodities like oil or gold. It may mean that ether will be now under the Commodity and Futures Trading Commission (CFTC) regulations.

Earlier SEC Chairman Jay Clayton also said that cryptocurrencies cannot be classified as securities unlike “digital tokens”.