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Crypto Coins Surge as SEC Spares Ether From Securities Rules (1)

June 14, 2018, 4:52 PM

Ether investors got a reprieve June 14 when a top U.S. regulator said transactions involving the token aren’t subject to federal securities rules, ending months of speculation that had weighed on the second-most valuable digital currency. Ether and other coins surged on the news.

“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,” William Hinman, who heads the SEC’s division of corporation finance, said in remarks prepared for a Yahoo Finance ...