Hi fellow Steemians!
After some recent bad news regarding global cryptocurrency market, we're now getting some better news.
The Securities and Exchange Commision (SEC) has declared that neither Ethereum nor Bitcoin are classified as securities.
For those unaware, some time ago there were talks that some cryptocurrency (specifically Ethereum) should be classified as a security. Had that been true, Ethereum, and other crypto declared to be securities, would have to be registered with the SEC and trading would have to be stopped, Ethereum foundation could have been fined, and while unlikely, the founders may have faced some jail time.
Luckily none of that came to be as the SEC's head of the Division of Corporate Finance, William Hinman, delivered the news at the San Francisco Yahoo All Markets Summit: Crypto conference.
Perhaps you may have noticed, but that's what has caused the sudden increase in the price of both Bitcoin and Ethereum in the last few hours.
Congrats to those trading crypto! Your future is looking much brighter now.
Source: Mashable
Image source: Coindesk
