The Crypto-verse is elated after the Director of The SEC’s Division of Corporate Finance, William Hinman, said that Ethereum (ETH) is not a security based on how it is structured in a decentralized manner. Mr. Hinman said that:
When we think about how Ether today is operating, at least, we see a highly decentralized network, not the type of centralized actor that characterizes securities offerings. In its current state, we don’t see value regulating it.
ETH joins Bitcoin (BTC) as the only two coins the SEC has openly excluded from being classified as securities. This then brings us back to the other discussion as to whether Ripple (XRP) fits the bill of being classified as a security.
There is also a pending Lawsuit against Ripple that was filed by a disgruntled trader.