SEC: Bitcoin Is Not Governed By Securities Laws

Our colleague Kristen Howell has published an alert reporting on an important development in the cryptocurrency industry. The U.S. Securities and Exchange Commission has declared that Bitcoin, Etherium and other coins operating on truly decentralized platforms are not securities. The agency’s reasoning was revealed in remarks by William Hinman, Director of the SEC’s Division of Corporate Finance, at the Yahoo Finance “All Markets Summit: Crypto” on June 14. Hinman explained that since the value of cryptocurrency is not based on the expectation of profits resulting from the success or failure of the issuer, it does not compare to a typical security. You can read Kristen’s alert here. For more up-to-date coverage from Tax Controversy and Financial Crimes Report, please subscribe by clicking here.

Read more detail on Recent Tax Law posts –

This entry was posted in Tax Law and tagged , , , . Bookmark the permalink.

Leave a Reply