SEC says Ethereum will not be classified as Security and price Spikes 8%



After a hard week in the cryptomarkets the SEC just handed out some good news.  While explaining which crypto ventures will be classified as Currency and which as a Security.  Exchange Commission Director of Corporate Finance William Hinman said that SEC would not classify Bitcoin or Ether as Securities.


Effect on Ether price




Why this matters?
Ventures that are as classified as a security have much more stingent rules the classification matters.  This announcement puts Bitcoin and Ether on a much stronger legal footing.

The market noticed and Ether went up 8%, Bitcoin also bounced 4% after being walloped over the past week.

The full video is here and well worth watching.  This may become the most watched Government video of all time as various entities try to parse out how they should proceed in this new field.



Sources:

https://www.youtube.com/watch?v=HJyRATEXpMQ

https://uk.finance.yahoo.com/news/sec-announces-ether-not-security-162658147.html?guccounter=1


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