The Securities and Exchange Commission (SEC), this week, once again confirmed Ethereum as a legal currency. The recent suit of the Commission against the Kik messenger describes the details of the KIN Token sales that had already been made against the Ether rather than the US dollar.
It seems that the commission, according to the official documents of the court, accepts Ethereum as a legal currency. Earlier, talks were arranged by law enforcement agencies in 2018, in which SEC officials stated that it would certainly not be possible to treat Bitcoin and Ethereum as securities.
Do not underestimate the ethereum
In sum, the outcome of the SEC’s motion against the cake was that, according to lawmakers, KIN Token could be considered as securities. This helps to confirm the adoption of the Ether by the SEC as a real currency.
The case reads:
Investing in KIN by investors was in fact investing money in a “joint venture” project in the hope of earning profits for both cake and offere, and basically the future efforts of cake and others to create the KIN ecosystem, and the increasing demand for this The token would lead. As a result, Kane’s supply of cakes and sales in 2017 was in fact a form of offering and selling securities.
This Canadian messenger is preparing itself to confront the main US legislator, the SEC.
This case differs between pre-sales and general sales of KIN Tokens, which were made in US dollars and EET, respectively. However, referring to the legal reaction of the cake to the release of its “Token”, Ethereum and the US dollar can be used alternately.