Breaking News: SEC Director Says Ether Is Not a Security
We can finally put down all the FUD for good around Ether "not a security". For years this issue plagued our community. Doing heavy research in 2015 I have known that ETH would not be considered a security rather its a commodity just like Bitcoin is and the CFTC should regulate.
This opens the floodgates to ETH ETFs and Futures.
It's also wonderful news for other smart contracts platforms such as NEO, EOS. Finally, the regulators are clearing the air of uncertainty and the US Institutions can start adding Crypto to their portfolios.
https://www.ccn.com/newsflash-sec-director-says-ether-is-not-a-security/
Who knows where the price of Ethereum will go now but it's probably going to moon. I would be surprise to see it flip BTC's value now that this grey cloud has been removed.
Soon as news broken Ethereumm price and volume went crazy. This is most likely the catalyst for the next hyper bull run from now to into next year as Cryptos reach into the trillions of USD market size.
Price is exploding. Let the FOMO start all over again. R.I.P. to the panic sellers and short sellers of Cryptos.
I just read this on CCN. I find it so surprising that they made this determination. It fits the generic description of a security but when you get down to the details I guess it isn't.
The Ethereum foundation was very careful to make sure Ether was not a security before doing the ICO in August 2014. In fact, they delayed the ETH ICO from January 2014 to August 2014 to make sure they got it right with the law. I know we are going to see some bigger news come out this year with Ethereum now that this grey cloud has been removed. For example, Ethereum futures from COBE will likely be announced soon. Also, FFG Hybrid Casper upgrade looks set to happen b/t Sept. or October.
It is wonderful for all the smart contracts ecosystem out there!
OMG... Yes. This is huge for now and in the future. Can you imagine the damage they would have done if they Government labeled the Internet as Security in the 90's. They could have put us into the dark ages.
I would not be surprise to see the ETH to BTC ratio hit new highs soon. This is the best news Ethereum could have received. This has long been the grey cloud that hung over ETH. Now I sure many of the tokens are securities but this is OK in my humble opinion. The most important thing is that these major Cryptos no considered securities then exchanges like Coinbase could be at mojor risk having to delist Ethereum. Securities Exchanges and protocols are already in place to satisfy the regulators needs with security tokens.
But again, folks Crypto does not depend upon regulators approve in first place. Decentralized exchanges are already taking b/t 15% of trade volumes. With DEXs there is no middle man or need for permission. Smart contracts execute the trade without human intervention.
God bless you. https://steemit.com/@biblegateway
hehe lol
it is scary to me.. ow!!
haha lol ;)
From my experience this type of positive regulatory news can end the bear market. Last year when Japan endorsed Cryptos as currencies the bull went full on. Again, when the CFTC released the Bitcoin futures news in Nov. prices skyrocketed. Once the prices start climbing again it's like a self-fulfilling prophecy. FOMO created more FOMO and it's the other way around when Crypto prices dropping FUD creates more FUD. I believe the Crypto space is like an infant with the way it behaves. This means as space grows and matures, there's a still lot of room for huge multiple gains.