The SEC and CFTC are meeting on May 7th to discuss whether or not ether (Ethereum) is a security, due to it's 2014 pre-sale ICO that raised $18 million. If deemed a security, it would likely be catostrophic for the price of ETH, as well as many other ERC-20 tokens, and even potentially Bitcoin and other Proof of Work coins.
Cointelegraph article on Ether being a security
https://cointelegraph.com/news/it-never-was-a-security-ethereum-under-the-regulatory-spotlight
CoinCenter article "No, no ether is not a security"
https://coincenter.org/entry/no-ether-is-not-a-security
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always good to see ya bobby
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Always good to see you too Stud
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always comin through with good content. i hope you get them steem dollars you deserve!
i am no expert though i am doubtful a crypto would be deemed a security
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all the best
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Thank you for the YouTube video. A(nother) stressful time for the crypto community.
We can all celebrate getting past this uncertainty, though.
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I think they will not provide a clear decision as it has major implications for regulation. Thus, they will probably delay their ultimate decision by saying that it is not a security but needs to be regulated thus leaving an overhang as the framework for regulation is created. Given that it is the primary vehicle for capital raises, they will want to keep it under its jurisdiction vs an CFTC which have more flexibile requirements.
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Thanks @cryptobobby for covering this! Almost forgot this was coming up.
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Jordan my dude... Yeah I certainly wouldn't doubt it. I'd be a bit surprised if they come out with something definitive tomorrow, probably just kick the can down the road
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