Bitcoin Watch – SEC determines Bitcoin and ether shouldn’t be regulated like stocks and bonds

14 June, 2018

The Securities and Exchange Commission (SEC) director of corporate finance William Hinman confirmed that Bitcoin and Ethereum do not meet the criteria for regulation that the agency typically applies to traditional securities (Washington Post, 14-Jun-2018). Speaking at an industry conference in San Francisco yesterday, Mr Hinman said: “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”. According to the Washington Post, these remarks suggest that, unlike companies, which are required to educate stock investors about the health of their businesses, the developers behind bitcoin and ether face no such obligations. The announcement has seen a steep rise in both cryptos who have been plummeting for the last week. Ethereum even rose by more than 10% overnight.

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