SEC Chairman Clayton Explains that an Asset Can Lose Its Status of Being Labeled a Security
U.S. Securities and Exchange Commission (“SEC”) Chairman Jay Clayton appears to have confirmed SEC-staff analysis of the classification of decentralized digital assets. Last year, SEC Director of Corporation Finance William Hinman said during a speech that decentralization impacts the classification of digital assets and that, by way of example, Ethereum did not exhibit the properties of a security. Congressman Ted Budd, along with the industry advocacy group Coin Center, wrote a letter to Chairman Clayton asking for clarification on whether the Chairman agreed.
Continue Reading Blockchain Week in Review: Week of March 11-15, 2019