SEC Rules that ETH is NOT a Security, Just as Predicted in my Earlier Video!
In the past few hours, William Hinman, director of the SEC’s division of corporate finance, has said that Ethereum will NOT be regulated as a security by the SEC.
He noted that even though Ether was initially issued via an ICO, the network had become "sufficiently decentralised" so that it no longer had a controlling party.
This reflects the prediction that I made in this video a few weeks back. So I'm feeling pretty smug right now! :D
Yes you were right! I clearly remember your video. Today’s great news about ETH and bitcoin not as a security pushed the market up. Perhaps short squeeze? Let’s see if that holds and we go up from now on. Even though I added additional BTS to my portfolio two days ago, I’m still very cautious. Overall market had a nice jump and now consolidates which is a good sign.
You knew it, I knew it after you mentioned it, most of us knew it. But there still were people who were afraid it could turnout the other way. There are actually people pissed about today’s announcement. These are anti crypto people. They must be really disappointed 😂. I hope that is the bottom. At least some do call it as a bottom.
Not really sure how they'l deal with the fact that people will claim that ETH tokens weren't for mere profits based on speculation but rather for payment on the platform. Could it be a possible that it might just end up being a formality or maybe they'll trace the tokens that have been used before a certain deadline?
Although the decentralized apps might the ones most worried but as you said that because without a previous precedent their is no justifiable way to deal with the situation. Maybe Ethereum will get a pass up till now and then 'line the sand' would be drawn.
So essential info.. @louisthomas.. .Regulation = corruption. Why does the SEC even have the right to name what Eth is either way? Because we the people let them have it! We simply bow to whatever they say and let them drive us as if we love to be driven.
Nice call man. Have to say that I've enjoyed buying Eth during the recent dip.
I think this is a good news for all crypto users and investors at least fed and other government regulatory body cannot regulate and control ethereum and other blockchain in the systems, it is pertinent to know that according to SEC statement that they cannot regulate a decentralize security assets which is a great news for all blockchain users @louisthomas
Great news. Will this be enough to turn the market around? Great location for your video.
NOt a good news at all, If someone is holding ETH, Sell it as soon as possible, I think now people will start selling and the price decrease will be a disaster.
This is HUGE news folks!!! There was a lot of speculation that the SEC would come down this way because of the difficulties in regulation ETH as a security. Let’s move forward now. thanks for share @louisthomas
This is great news as ETH could not start building value again as uses can go farther than only ICOs. Dapps like CryptoKitties could continue to be built without the concern of regulatory uncertainty. This could bring back interest to the asset. Next step, Casper and Sharding!
The comments he made about some tokens being a "product" were also key to what you're talking about.
Curious to hear how correct of a ruling do you think this is? or, do you think its possible the SEC findings is due more to lobbying than a legitimate passage of the Howey Test.