The Chairman of the Commission on securities (SEC), the United States agreed with the Director of the corporate Finance division controller William Hinman (William Hinman), Ethereum (ETH) is not a security. About this Jay Clayton (Jay Clayton) wrote in a letter to house of representatives member of Congress Ted Budd (Budd Ted).

In June last year, Hinman said that at least “structured as currently, the” ETH will not be regulated by the SEC as securities.

The digital asset may be considered a security if it represents the investment contract. According to Clayton, it depends on the nature of the proposal, not from the terminology used in the description of the asset. If a token is offered for sale or as an investment contract, it is an offer or sale of securities. That is, whether cryptochip security depends “on the facts and circumstances, including the economic realities of the transaction,” said the head of the SEC.

Clayton also agreed with the opinion of Hinman that the nature of a digital asset is not “static” and can therefore change over time.

“The digital asset may be offered and sold initially as securities, because it meets the definition of an investment contract. But this designation may eventually change, if subsequently, the digital asset will be offered and sold in such a way that it will no longer meet the definition,” wrote Jay Clayton.

We will remind that after the statement of William Hinman President and chief operating officer Cboe Chris Concannon (Chris Concannon) said that the SEC removed the last obstacle to the launch of futures on Ethereum. Despite the fact that the rumors about the launch of the Cboe and CME Group derivatives ETH and LTC appeared in December 2017, the exchange still not done.