SEC director, who said that Ethereum has no signs of a security, leaves the department
US Securities and Exchange Commission (SEC) Corporate Finance Director Bill Hinman Retires.
Hinman’s work consisted primarily of adapting the requirements of securities legislation to changing market conditions. He founded the SEC’s Strategic Center for Innovation and Financial Technology to engage industry representatives in addressing digital asset regulation challenges..
Crypto market participants remembered Hinman for a speech he made in 2018 when he first announced that the SEC did not consider Ethereum a security..
“As far as I understand the current state of ether, the Ethereum network and its decentralized structure, the existing offerings and sale of ether are not securities transactions. There is little benefit from applying securities laws to ether, ”he said at the time..
“If I had to choose the person who has made the greatest impact on cryptocurrency legislation to date, I would name Bill Hinman,” writes crypto lawyer Gabriel Shapiro. “His speech was delivered at a critical moment for the cryptocurrency industry and outlined the ideal regulatory policy given the true purpose of this technology.”.
Hinman’s deputy, Shelley Parratt, will take over..
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