In a turn of events about whether Ethereum (ETH) is a security or not, William Hinman, Director of the SEC’s Division of Corporate Finance, has said Ether will not be regulated as a security by the SEC. Mr. Hinman clarified this on Thursday at the Yahoo Finance All Markets Summit where he said:
“When we think about how ether today is operating, at least, we see a highly decentralized network, not the type of centralized actor that characterizes securities offerings. In its current state, we don’t see value regulating it.”
However, his comments did not extend further to ICOs built on the Ethereum platform as well as other ICO capable blockchain platforms. His clarification was only towards Ethereum. This means that some ICOs might fall under the scrutiny and regulation of the SEC at present and in the future.
With Ethereum being announced not being a security, this sets the precedence for the Ripple (XRP) debate as to whether the coin is also a security. This is after a class action lawsuit was filed on the 3rd of May against Ripple.
Brad Garlinghouse, the CEO of Ripple, has constantly explained why XRP is not a security. In an interview with CNBC, Mr. Garlinghouse said that:
“Whether or not XRP is a security shall not be dictated by one lawsuit. The SEC is the governor of that. I think it is very clear that XRP is not a security. It exists independently of Ripple the company. If Ripple, the company shut down tomorrow, XRP will continue to exist.”
That said, it seems the SEC will have the final say about XRP.
However, the SEC still have to figure out a way of not clashing with Cryptocurrency Crusader, John McAfee. McAfee has vehemently expressed his opposition of the SEC classifying ICOs as securities. He was recently quoted as saying that:
“I will not now, nor will I ever, accept this as a reality. I am submitting, now, to this law, but I will fight with every last breath to ensure that this absurd overreach by the SEC will not stand!! It will not stand!”
All in all, the SEC declaration of Ethereum not being a security is a sigh of relief not only for the Ethereum community but also that of Ripple.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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3 Coins Coinbase Will Adopt Next
Coinbase is one of the largest and most popular cryptocurrency exchanges in the world. However, throughout its existence, it was very picky when it comes to which coin it will adopt. So much so, that it has become a very large achievement to get support by the exchange.
Recently, however, Coinbase has decided to act on its users’ wishes and expand its list of accepted coins. In theory, this was a big deal, and the exchange actually started looking into a lot of coins. However, it only adopted a few of them. Right now, Coinbase is supporting Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, USD Coin, Basic Attention Token, and 0x.
Even so, Coinbase wishes to add more of them, but only after it ensured that the coins are a part of legitimate, non-controversial projects. As a result, the entire crypto community started speculating about which coins will be added next. This will also be something that we will try to answer today, by listing three projects that are the most probable candidates.
EOS or Ethereum On Steroids, as some like to call it, is a more than a decent project that has made headlines multiple times this year due to its progress. It managed to launch its own MainNet, which made it perfect for dApp development and smart contract creation. This makes it similar to ETH, but many…
What Will It Take For Bitcoin (BTC) To Rise Again?
It is no secret that 2018 has been a terrible year for cryptocurrencies when it comes to their value. Things looked so bright during the first few days of this year, with Bitcoin hitting $20,086 per coin, and every altcoin reaching new heights. However, it was not to last, and soon enough, the market crashed, and prices went down.
What followed was months and months of a heavily bearish market that kept pushing the prices further and further down. It prevented any attempt of recovery, although several of them gave it their best shot.
Despite a situation like this, crypto investors never forgot the potential of Bitcoin, and many have been predicting another bull run that would have the same results. Those expectations were quite large, and potentially even unrealistic at first. Now, however, as the year approaches its end, it doesn’t seem like anything will happen. The community started to wonder why that is, and what would it take for another bull run to emerge, which is what we will try to answer right now.
What does Bitcoin need in order to have another bull run?
1. Bringing regulation
The crypto space remains highly unregulated in most parts of the world, which is one of the largest reasons why BTC remains dormant. While there are attempts to regulate it, these attempts are made even more difficult due to the fact that the market is constantly changing and…
Stellar plans to Airdrop 150 Million USD in XLM to Blockchain Wallet Users
Recently the Stellar Development Foundation partnered with Blockchain Wallet to airdrop $150 million value of XLM, to the owners of the wallet. The Block declared that the first batch of XLM would be shared this week for all users who signed up to use the Blockchain wallet.
The team behind the stellar Development Foundation hopes that this partnership will make XLM a real rival for other cryptocurrencies from the market.
The co-founder of Stellar, Jed McCaleb declared the following about the airdrop:
“We believe that airdrops are central to creating a more inclusive digital economy. Giving away lumens for free is an invitation to communities to design the services they need.
By working with Blockchain to increase the availability and active use of lumens on the network, we will increase the network’s utility by many orders of magnitude.”
Just $25 value of XLM each
To share some respect to the worth of XLM will distribute for each user, the team of Blockchain wallet declared that after verifying the identity when signing up to the wallet, $25 value of XLM will be shared to each. Furthermore, there will be a first- come and the first-served clause in this airdrop which says:
” Offer available until XLM giveaway supply is depleted. Limit of one XLM airdrop per person, unless participating in any bonus activities.
A person can receive the XLM airdrop in only 1 Blockchain Wallet. XLM…
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