Ether is not a financial security, says the American financial markets authority

By CryptoItachi | Kenny16 | 12 Nov 2020

Very positive news for Ethereum and Ether

SEC Corporate Finance Director William Hinman (US Financial Markets Authority) said Ether, the Ethereum network token, will not be considered a financial security by SEC standards .

It was during the Yahoo Finance All Markets Summit: Crypto, that William Hinman said, "given its current structure" Ether will not be regulated as a financial security by the SEC.

“When we see how ether works, we see an ultra decentralized network,” Hinman said, not the type of centralized company that does a securities issue in the financial markets. "In its current state, we see no interest in regulating it".

Bitcoin is not considered a financial security as well

More recently, the SEC had declared that Bitcoin was not considered a financial security.

This just goes to show that the two largest cryptocurrencies with the highest capitalization will be spared by SEC regulation. 

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