The US Securities and Exchange Commission (SEC) has already defined initial coin offerings (ICOs) as securities. In doing so, the independent regulatory agency requires cryptocurrency exchanges dealing with ICOs to register in order to operate legally. According to one SEC director, however, not many have reached out.
The Director also noted that the SEC will continue to provide clarity on the matter going forward, though did not provide a definitive timeline.
Redfearn also declined to comment on whether or not Ethereum and XRP — the second and third largest cryptocurrencies by market capitalization, respectively — are securities. He did, however, tell CNBC that statements on “at least one of those products” will be coming “in the future.”
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Do you think Ethereum or Ripple will be ruled a security?