The United States refused to recognize the Ethereum cryptocurrency as a security

During the Yahoo Finance summit, the US Securities and Exchange Commission officially announced that it refuses to grant the Ethereum cryptocurrency the status of a security. This also applies to all means of its processing, conversion and generation - they are all illegal, because Ethereum cannot be considered a reliable analogue of money. This news immediately raised the cryptocurrency rate by 8%, to $ 520 per token.

Is this news positive or not? Refusal to recognize Ethereum as a security means that transactions with it fall out of the sight of regulatory authorities. For those who acted on the black market, nothing fundamentally changes, all innovations are addressed to investors and businessmen who want to remain in the legal field. They lose control over transactions from the authorities, but also their help.

Last year, the same Commission recognized DAO tokens as securities and obliged to register all transactions with them. However, in April of this year, bitcoin had a different fate, and it was not ranked as a securities. And now the fate of Ethereum has been clarified, then all other popular cryptocurrencies are next in line. Investors are explicitly warned against participating in the ICO of any "virtual money" - although the transactions are carried out honestly, they are all inherently illegal.

The main reason for this attitude towards Ethereum, Bitcoin and other tokens is in their blockchain nature and currency decentralization. There is no third party that would control this currency supply, it is not backed by anything, and therefore the same laws that were invented for classical money and securities cannot be applied to it. Investors perform all operations with them at their own peril and risk.