Bitcoin Not A Security!

Recently, It came to my attention that the SEC having been criticized, have provided a bit more clarification as to the status of Bitcoin.  It is widely, believed this will be sort of a heralding for industry to launch out in the deep by embracing the technology if they have not already.   

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Industry itself move often at a snails pace.  Right or wrong they will be investing billions of dollars and cannot often do so if they risk running into regulatory headwinds.  So, in some sense, this may help them to understand what is expected.  

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At the heart of the matter is the question, "What is a Security?"  The SEC has stated in the past that it has answered these questions.  With billions on the sidelines and many previously asking for guidance, the agency has dripped a little more clarity in the statement, "Bitcoin is not a Security", not much but this may loosen some of those billions. 

 

The regulator speaking was William Hinman, director of Division of Corporate Finance at the SEC.  While speaking at a Yahoo market summit.  Apparently, he alluded to Ether as well.  Otherwise, it was interpreted that Ether was inclusive in the remarks.  Moreover while the speech was instructive it should be noted to all this is not a ruling.  The concern here is that a federal judge might not agree.  Even so, the crypto-verse is getting a glimpse into the SEC's thinking if nothing more.  Still it's a bit more than they have said before.   More to come....