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.
Important Disclaimer: Dark Street does not endorse any financial vehicle or investment. Opinions expressed on Dark Street are those of the writers and not of Dark Street. The information provided in Dark Street including but not limited to; articles, notes, webinars and accompanying material is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs. Dark Street does not make any guarantee or other promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence. To the maximum extent permitted by law, Dark Street disclaims any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable, or result in any investment or other losses. Content contained on or made available through the website is not intended to and does not constitute legal advice or investment advice and no attorney-client relationship is formed. Your use of the information on the website or materials linked from the Web is at your own risk.