ICOs are security Bitcoin not, Claims SEC chairman Clayton

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In the interview of the chairman of SEC with CNBC. There is no doubt in what he sees bitcoin as, he said he only perceives bitcoin as a mere replacement to different country's foreign currency and not as a security. In his video interview with CNBC, he was asked about the groundbreaking solutions blockchain technologies have come to deliver to the markets in terms of efficiencies. Clayton said:

“Replace the dollar, the yen, the euro with Bitcoin. That type of currency is not a security.”

Funny enough, his judgement was only based on bitcoin and he did not discuss any other cryptocurrency. He also clarified what he believes to be considered securities.

“Where I give you my money and you go off and make a venture […] and in return for me giving you my money, you say, ‘You know what, I’m going to give you a return.’ That is a security, and we regulate that. We regulate the offering of that security, and we regulate the trading of that security.”

He further didn't hit more on initial coin offerings as he said it has been clarified in the quotes above reported by Cointelegraph. He clarified that SEC stand on what is considered to be securities will not change not for any reasons and not even because of giving support to ICOs.

During the February meeting of Security Exchange Commission and CFTC(Commodity Futures Trading Commision), Blockchain was significantly lauded and it was emphatically stated that every ICO they have investigated prior to the meeting could be seen as security.

Although there has been rejection of altcoins like ethereum and ripple to not be considered as securities. This was clarified for ethereum from Joseph Lubin of ethereum and also statement from ripple also that ripple likewise is not security.

Ripple is currently facing lawsuit filed by an estranged investor stating xrp is an unregistered security.

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