SEC: Ethereum is too ‘decentralized’ to be considered a security

It appears that the US Securities and Exchange Commission (SEC) has changed its stance on cryptocurrencies and their status as securities. SEC director of corporate finance William Hinman said the Ethereum network and its cryptocurrency Ether do not constitute securities — and as such are out of the purview of US securities law. “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 SEC official said. “And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would…

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