Ether explodes higher after SEC news

Screen Shot 2018 06 14

He also said that investor contracts that involve Bitcoin could be classed as a security if they meet certain requirements or offer a future increase in value.

William Hinman, head of the Division of Corporation Finance at the SEC, said that US securities law will not apply to Ethereum as a tradable commodity because of its decentralization.

While the words carry weight from one of the SEC's highest officials, it's worth noting that they were spoken somewhat informally and may not represent a cohesive message across the SEC's regulatory staff.

In an announcement at Yahoo Finance's All Market Summit: Crypto in San Francisco on Thursday, the U.S. Securities and Exchange Commission Director of Corporate Finance William Hinman said that the commission would not be classifying ether or bitcoin as securities. And the SEC's analysis on Thursday did not address other cryptocurrencies that the agency may decide ought to be regulated as securities.

Obama Secretly Meeting With Potential 2020 Candidates
Deval Patrick , Barack Obama's long-time personal friend and former MA governor, has also been eyeing the 2020 presidential race. Obama has said he doesn't intend to endorse any candidates until after one emerges as the Democratic nominee.

Gabriele Marcotti on Alisson to Liverpool
An experienced global who will be at the World Cup finals with Switzerland this summer, Shaqiri can play both sides of the attack. Roma have allowed Alisson's agent Jose Maria Neis to speak to Madrid officials and a £61million fee could be agreed.

Federation Internationale de Football Association 2018 World Cup opening ceremony underway in Moscow
They even highlighted restrictions on weapons in Morocco in an apparent dig at gun crime in the United States and Mexico . Edmonton's hopes of becoming a host city for the 2026 FIFA World Cup rest on a final vote Wednesday morning in Moscow.

Concern in particular had mounted around Ether due to its widespread use and because the Ethereum Foundation initially sold it in a manner that some in the financial industry have said resembled securities offerings. But this absolution comes from "putting aside the fundraising that accompanied the creation of Ether", he said, as a token or coin can't be deemed a security if no central organization or company is directing it after launch.

In many cases, but not all, companies that handle cryptocurrencies comply with tax, banking and other regulations that aim to protect consumers.

While Hinman provided clarity on ether, he reiterated the agency's views on ICOs and shared further guidelines to assess whether a token is a security. "I believe in those cases [the] answer is a qualified yes". Hinman clarified that the important thing the SEC needs to consider is how a security is issued, sold, marketed, and used, rather than any sort of label like "coin" or "token".

"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."
The piece focused on a recent speech by Gary Gensler, former chairman of the Commodity Futures Trading Commission (CFTC), in which he opined that ETH and Ripple (XRP) are unregistered securities. The CFTC allowed bitcoin futures to be traded a year ago on three exchanges.

Related news:

Hot News

isis-killer-beheading-video-story-top United States oil prices rally amid Iraqi oil minister's remarks
Jun 15, 2018 - 02:25
Officials from Iraq and Algeria made negative comments over the past week about the possibility of higher output. Libya and Nigeria seemed to have hit a temporary ceiling, with security issues always looming as a supply risk.

isis-killer-beheading-video-story-top Samsung's foldable phone to come in early 2019, cost around $2,000
Jun 15, 2018 - 02:02
The company was one of the firsts to bring true infinity display which is now common in many phones including Apple iPhones. The so-called Galaxy X will feature a " fold-in structure", The Bell notes, comprising three 3.5in OLED panels.

isis-killer-beheading-video-story-top Macron apologises to Italy as row over migrant boat continues
Jun 15, 2018 - 00:41
More than 1.8 million people have entered Europe irregularly since 2014 and Italy is now sheltering some 170,000 asylum seekers. A government source said Conte still did not see the right "conditions" for a Friday meeting with Macron.

isis-killer-beheading-video-story-top How President Trump factored into Tuesday's primaries
Jun 15, 2018 - 00:29
On the Republican side, Tarkanian (who is now running for the House instead of the Senate) will face off against state Sen. McMaster , an early supporter of the president's 2016 campaign, had Trump's full endorsement, marked by a weekend tweet .

isis-killer-beheading-video-story-top Antarctica has lost almost 3 trillion tonnes of ice since 1992
Jun 15, 2018 - 00:25
But what concerns scientists is the balance of how much snow and ice accumulates in a given year versus the amount that is lost. The Antarctic Peninsula is also shedding ice, though at a less rapid clip, while East Antarctica has remained fairly steady.

isis-killer-beheading-video-story-top Mbappe says injury not serious ahead of Socceroos clash
Jun 15, 2018 - 00:06
After that they will face Peru in Yekaterinburg on June 21 and Denmark in Moscow on June 26. Mbappé has started each of France's last seven matches, scoring three times.

isis-killer-beheading-video-story-top Queen, Meghan cheered by crowds on first joint royal trip
Jun 14, 2018 - 23:15
After they left the Storyhouse, the women went for a walkout to great the crowds who had formed to catch a glimpse of the royals. Following this, it is considered rude to present the Queen with your back, and most people will walk backwards away from her.

isis-killer-beheading-video-story-top NWS: Tornado with 130mph winds struck Wilkes-Barre, Pa.
Jun 14, 2018 - 23:09
The tornado was on the ground for approximately three quarters of a mile (1.2 km), with a maximum path width of 200 yards (183 m). The Wilkes-Barre Township Barnes & Noble store is seen Thursday morning following a tornado strike Wednesday night.

isis-killer-beheading-video-story-top 90s horror-comedy classic 'Arachnophobia' remake is in the works
Jun 14, 2018 - 22:38
Wan is repped by Paradigm, Stacey Testro International, and attorney David Fox. Amblin produced " Ready Player One " and " Jurassic World: Fallen Kingdom".

isis-killer-beheading-video-story-top World Cup choices by the man in the street
Jun 14, 2018 - 21:58
Rose: Win, lose or draw I've been supporting Brazil with the exception of 1998 when Jamaica was in the tournament. They have the right mixture of experience and youth. "I will be praying everyday for Argentina's success".

isis-killer-beheading-video-story-top Technicals Ratcheting Up Interest in Servicenow Inc (NOW) Near Term
Jun 14, 2018 - 21:53
Now we see the performance from the period beginning the first day of the current calendar or fiscal year up to the current date. The 50-day moving average is perceived to be the dividing line between a stock that is technically healthy and one that is not.

Nintendo Jabs Sony For Sabotaging Fortnite Cross-Play, Sony Issues Feckless Response
Jun 14, 2018 - 21:46
Fortnite is already a huge hit with PS4 fans, offering a true free-to-play experience so gamers can jump in and play online. The lack of cross-play means any purchases they've made on PS4 won't carry over to the Switch.

isis-killer-beheading-video-story-top Federal Bureau of Investigation agent charged with assault after firing gun while backflipping
Jun 14, 2018 - 21:43
Tom Reddington, 24, was left shot in the leg and reportedly will have to undergo vascular surgery to fix a major artery. Mile High Spirits said on its Facebook page that the bar's management was "deeply saddened" by the incident.

isis-killer-beheading-video-story-top U.S., Mexico, & Canada to Host 2026 World Cup
Jun 14, 2018 - 20:58
The United States is likely to have 10 cities selected to host games, while Mexico and Canada are expected to each have three. Soccer has spent the past decade-plus trying to return the World Cup to this country for the first time since 1994.

isis-killer-beheading-video-story-top Average worker can't afford 2-bedroom apartment anywhere in USA , report says
Jun 14, 2018 - 20:56
Nationally, someone would need to make $17.90 an hour to rent a modest one-bedroom or $22.10 an hour to cover a two-bedroom place. But this process, known as filtering, does not produce enough affordable rental homes to serve extremely low income renters.