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RE: Will the SEC Rule Ethereum is a Security? Time to Panic?

in #cryptocurrency7 years ago

I am not saying ETH is a bad coin or that people holding ETH should necessary sell but what I am saying is that under current regulation I think ETH looks more like a security than a utility.
This is all a bit farcical as crypto does not fit into any of the classical asset class models. Consequently if the SEC say ETH is indeed a security that punches a big hole in the whole ERC20 eco-system due to the increased regulation and scrutiny that will result. That is why IMHO the SEC should adopt a "Wyoming" type law that clearly defines exactly what a utility token is instead of using outdated regulations, that are not fit for purpose, to classify crypto.