US SEC Chairman Jay Clayton Confirms ETH Is Not a Security
Citing a letter written by Clayton, Coin Center reports that the SEC staff has found that ETH is not a security under U.S. law.
United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton confirmed that Ethereum (ETH) and cryptocurrencies like it aren't securities under U.S. law, non-profit crypto research organization Coin Center reports on March 12.
In September last year, Coin Center worked with U.S. representative Ted Budd to send a co-signed letter to Clayton asking whether he agreed with the approach to ETH of the SEC's director of corporate finance, William Hinman.
In his answer letter, dated March 7, Chairman Clayton noted that he agrees that a digital asset's definition as a security is "not static" and thus can change over time.