According to a senior U.S. SEC official Ethereum will not be regulated as a security as reported within the Wall Street Journal on June 14.
Here are the exact words of SEC Corporation Finance Director William Hinman on what he sait at the Yahoo Finance's All Market Summit in San Francisco:
“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.”
That means that the altcoin is seen to be decentralized to such an extend that it doesn't have to fear any heavy regulations being considered a security. That being said I expect the exact same thing to happen for Bitcoin shortly as SEC Chair Jay Clayton recently stated that he believes Bitcoin is also not a security as it acts as a replacement for sovereign currencies.
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