The US refused to recognize the Ethereum crypto currency as a security

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<pre>The US refused to recognize the Ethereum crypto currency as a security

The Securities and Exchange Commission of the US during the Yahoo Finance summit officially announced that it refuses to provide the Ethereum crypto currency status of the security. This applies to all the means of processing, converting and generating it – they are all out of the law, because Ethereum can not be considered a reliable analogue of money. These news immediately threw the rate of crypto currency by 8%, to $ 520 per token.

Is this positive news or not? The refusal to recognize Ethereum as a security means that transactions with it fall out of the field of view of the controlling bodies. For those who acted on the black market, nothing fundamentally changes, all innovations are addressed to investors and businessmen who want to stay in the legal field. They are deprived of control over transactions by the authorities, but their help too.

Last year, the same Commission recognized DAO tokens as securities and ordered to register all transactions with them. However, in April this year bitkoin fell a different fate, and he was not ranked among the securities. And now the fate of Ethereum is clarified, then all the other popular crypto-currencies are next in line. Investors are warned with open text about participation in ICO of any “virtual money” – although the deals are fair, they are essentially illegal.

The main reason for this attitude to Ethereum, bitcoin and other tokens in their blockbuster nature and the decentralization of the currency. There is no third party that controls this currency, it is not secured, and therefore it is impossible to apply to it the same laws that were invented for classical money and securities. All transactions with investors are carried out at their own peril and risk.

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