SEC Official Says Bitcoin And Ether Are Not Securities

Law360 (June 14, 2018, 7:54 PM EDT) -- A key Securities and Exchange Commission official said Thursday that the agency does not consider cryptocurrencies bitcoin and ether to be securities, while affirming that many digital tokens sold in fundraising schemes known as initial coin offerings are indeed securities.

SEC Division of Corporation Finance director Bill Hinman, speaking to a conference focused on cryptocurrencies, sought to address ongoing questions from business and legal practitioners over whether digital assets should be considered securities and at what point they are not securities. These questions have nagged regulators since the explosion of cryptocurrencies and related ICOs, which operate in a still evolving regulatory...

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