The world of cryptocurrency just got some much needed good news.
With the prices of bitcoin and ether on a steady downward trend, the Securities and Exchange Commission today provided hodlers with a flash of hope: Neither of the cryptocurrencies are considered securities.
SEE ALSO:The only good thing to come out of Bitcoin is this stock art catSo reports CNBC, which notes that the SEC's head of the Division of Corporate Finance, William Hinman, delivered the news at the San Francisco Yahoo All Markets Summit: Crypto conference. If the SEC had decided differently, then exchanges and markets would likely have faced some serious regulation.
And, well, no one in cryptoland likes regulation.
The announcement was celebrated by big names in both the Ethereum and Bitcoin space.
Tweet may have been deleted
Oh, also, it had quite the effect on price. Coindesk shows both ether and bitcoin spiking on the news.
But all this doesn't mean the SEC is washing its hands of the entire emerging industry. According to Hinman, many ICOs are in fact securities and will be on the receiving end of SEC regulatory action.
Interestingly, Yahoo News reports Hinman as explaining that simply calling something a coin or a token makes no difference in the eyes of his agency. More important is the extent of decentralization involved in the network in question.
"Over time," CNBC quotes him as saying, "there may be other sufficiently decentralized networks and systems where regulating the tokens or coins that function on them as securities may not be required."
So, you know, better hype up your blockchain project's decentralized attributes now. It may save you from the SEC's wrath later.
TopicsBitcoinCryptocurrency
(责任编辑：娛樂)
Olympian celebrates by ordering an intimidating amount of McDonald's
Pepsi autopsy: How the brand got its commercial so massively wrong
Chrissy Teigen teamed up with Arthur to throw shade at John Legend's Easter outfit
'Get Out' leads MTV Movie & TV Award nomsCarlos Beltran made a very interesting hair choiceSINGAPORE -- Getting stuff done at the bank often involves having to waste part of your day standing
...[详细]Check out these latest ‘Overwatch’ skins from the ‘Uprising’ event that are awesomely retro
Overwatch's latest event -- Uprising-- is taking players back seven years in the past to battle hord
...[详细]How 'The Good Fight' is tackling politics while avoiding 'Trump fatigue'
There's no denying that the world has changed since November. Whether it's changed for better or wor
...[详细]Whoa, Microsoft just squeezed by Apple in tablet satisfaction
Microsoft came to the tablet party late, but it's taking home the centerpiece: A J.D. Power award fo
...[详细]Photos show the Blue Cut fire blazing a path of destruction in California
A fast moving wildfire continued raging near San Bernadino, California, forcing the evacuation of at
...[详细]This mother's face after delivering an 11
The average weight of a newborn baby is about seven and-a-half pounds, according to parenting websit
...[详细]How 'The Good Fight' is tackling politics while avoiding 'Trump fatigue'
There's no denying that the world has changed since November. Whether it's changed for better or wor
...[详细]Mum says what everyone's thinking about prams being used as a status symbol
A mother of one from Cornwall, UK, has hit out at the world of "pram snobbery" and the pressure to b
...[详细]5 people Tim Cook calls for advice on running the biggest company in the world
It's only fitting that the leader of the biggest company in the world has a pretty impressive list o
...[详细]Nicole Richie gets slapped in the head in world's most awkward interview
Oh dear, sweet God no. What did we do to deserve this record-setting level of cringe?Nicole Richie s
...[详细]Twitter grants everyone access to quality filter for tweet notifications
Here are a bunch of photos of Jared Kushner just staring blankly into the middle distance
