RATE Group | SEC Chairman Clarifies The Comments On Ethereum (ETH) Were Non-Binding and ‘not the Law’
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SEC Chairman Clarifies The Comments On Ethereum (ETH) Were Non-Binding and ‘not the Law’

18 Sep SEC Chairman Clarifies The Comments On Ethereum (ETH) Were Non-Binding and ‘not the Law’

Posted at 13:05h in Ethereum News by

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Back in mid June, SEC Commissioner William Hinman, publicly stated that Ethereum (ETH) was not a security. Commissioner Hinman, who is the Divisional Head of Corporate Finance at the regulatory body, made the remarks at the Yahoo All Markets Summit in San Francisco. To be specific, he stated the following with regards to Ethereum:

And putting aside the fundraising that accompanied the creation of Ether, 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.

SEC Chairman Clarifies Director Hinman’s Comments

Three months later, and on the 13th of September, the SEC Chairman, Jay Clayton, has come out to clarify the comments of Director Hinman as non-binding to the authority and not to be considered law. He did so via a public notice that stated the following:

The Commission’s longstanding position is that all staff statements are nonbinding and create no…

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