The SEC’s internal deliberations over cryptocurrency regulation have been highlighted by an email sent by William Hinman, the former Director of the Division of Corporation Finance.
Hinman’s Email and Ether’s Securities Exclusion
Hinman’s email, dated June 4, 2018, titled "Ether speech," displays the SEC's selective approach to regulation, raising concerns about favoritism. Hinman expressed his intention to publicly clarify Ether’s regulatory status, excluding it from being classified as a security.
Role of SEC’s Top Officials
The SEC’s stance on Ether involved top officials, suggesting a high-level decision-making process. This has led to perceptions of special treatment for Ether, while information on other cryptocurrencies remained ambiguous.
Implications for Other Cryptocurrencies
Ether’s non-security status provided it with regulatory freedom, unlike other cryptocurrencies. The lack of clarity for other digital assets has led to questions about fairness and consistency in the SEC’s actions.
Hinman’s email underscores the importance of a uniform approach to cryptocurrency regulation, further raising questions about fairness and consistency in the SEC’s actions.
