The SEC's disclosure relieved the market, the price of Ethereum rose sharply

According to the Wall Street Journal, a top-ranking US Securities and Exchange Commission (SEC) official said that the subcontractor Ethereum (ETH), the leader, will not be regulated as a security.

"I can say that Ether is not a security based on the current state of Ether, the knowledge of the Ethereum network and its decentralized structure," said William Hinman, a Finance Director at the SEC. "

In the past, the president of the Ethereum Foundation, Aysa Miyaguchi, has argued that the foundation has no power over the Ethereum, and that there is no reason for the Ethereum to be classified as a security. and all of the Foundation's Ether z that has less than 1, also said nor what it controls the supply of new Ether Ether can take on a new market.

Meanwhile, during the past week, SEC President Jay Clayton has stated that Bitcoin is not a securities

. hard rise

With this statement from the SEC official, the price of Ether has risen sharply. Ether, which traded at $ 467 before the statement, quickly climbed more than 10 percent to $ 517.

If something is classified as securities, it has to be subject to the same laws and regulations as traditional financial assets. This requires registration with the competent authorities and taxation in this way.