In today’s video, our friend BTC Kyle discusses SEC Director of Division of Corporate Finance William Hinman’s remarks from the Yahoo Finance Alt-Market Summit regarding whether crypto assets should be deemed as securities. Notably, this included a statement on ETH, the cryptocurrency that powers the Ethereum network.
Hinman stated: “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 market has reacted very positively to this news and a weight has been lifted off of many exchanges shoulders who were at risk of being fined or penalized for having ETH listed on their non-SEC regulated exchange.
Later in the video, Kyle takes a look at a few charts and demonstrates how the market is reacting to this news. Take a look for more!