Financial regulators around the world, first and foremost, this refers to Commission the securities and exchange Commission (SEC), lack a fundamental understanding of the cryptocurrency. This opinion in an interview with CNBC expressed his well-known entrepreneur and Advisor to the Ethereum Foundation William Magyar.

“The SEC is trying to educate themselves and not the public. They are still trying to figure all this out, and this is their framework, to consider cryptocurrencies as securities. But in reality, not all crypto currencies are securities. But they want everyone to play within this territory,” he said.

William Magyar, which earlier this year announced the creation of the investment firm, which will support cryptocurrency and blockchain startups, also commented on the recent words of the CEO of Twitter and Square Jack Dorsey that bitcoin could become the native currency of the Internet.

According to the businessman, he really thinks bitcoin is such, however, not only in this respect, and that other cryptocurrencies

Moreover, William Magyar believe that Ethereum will inevitably overtake bitcoin, because it has the largest ecosystem of developers, startups, venture capital and support.

“What matters is not the technology, and who uses it”, — he said.

We will remind, earlier this week the Commission on securities and stock exchanges of the USA for educational purposes, has launched a website to promote a non-existent and fraudulent primary supply of coins (ICO) HoweyCoin.