Published On: Thu, Jun 14th, 2018

Bitcoin And Other Cryptocurrencies Are Not Securities, SEC Official Says, But Initial Coin Offerings May Be

Bitcoin and other cryptocurrencies rose today on news that a United States Securities Exchange Commission (SEC) official declared that they aren’t securities. Despite that good news for some crypto, some initial coin offerings might still be considered securities under the United States regulatory body’s rules.

According to a CNBC report, William Hinman, head of the Division of Corporation Finance at the SEC, discussed the attributes that made some crypto assets like digital tokens a security while he pointed out that other cryptocurrencies like Bitcoin and Etherum did not have those features and should be treated like commodities similar to gold.

At Yahoo Finance’s All Market Summit: Crypto in San Francisco Hinman said, “Central to determining whether a security is being sold is how it is being sold and the reasonable expectations of purchasers.”

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Bitcoin And Other Cryptocurrencies Are Not Securities, SEC Official Says, But Initial Coin Offerings May Be