On March 12, the cryptocurrency and blockchain legislative advocacy group Coincenter published correspondence between the Securities and Exchange Commission (SEC) chairman Jay Clayton and representative Ted Budd. The letter explains that Clayton and the SEC’s staff analysis confirms that Ethereum and similar cryptocurrencies are not subject to securities laws.
Also read: Cointext Adds the Ability to Pay Bitpay Invoices Using SMS
SEC Chairman Jay Clayton Agrees That Certain Cryptocurrencies Are Not Securities
It seems the SEC chairman Jay Clayton agrees with the agency’s head of the Division of Corporate Finance, William Hinman. Last July, news.Bitcoin.com reported on Hinman’s opinion that that cryptocurrencies like BTC and ETH are not securities. “If the network on which the token or coin is to function is sufficiently decentralized” then the currency is likely not a security explained Hinman during the Yahoo All Markets Summit. So a few months ago, the blockchain legislative advocacy group…