SEC: Won't change definition of security to include cryptocurrencies - CNBC
|Speaking live on CNBC, Jay Clayton, the U.S. Securities and Exchange Commission Chairman, said that they would not make any changes to the traditional definition of a security to make an exception for cryptocurrencies.
"Cryptocurrencies: These are replacements for sovereign currencies, replace the dollar, the euro, the yen with bitcoin. That type of currency is not a security," Clayton explained.
Commenting on the classification of digital assets, "a token, where I give you my money, and you go off and make a venture, and in return for giving you my money I say 'you can get a return' that is a security, and we regulate that. We regulate the offering of that security and regulate the trading of that security," he said.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.