SEC has changed the term cryptocurrency

The US SEC has removed the original definition of cryptocurrencies in its rulebook for hedge funds. This was reported in the representative office of the regulator.

Details about this

Initially, the document defined cryptocurrencies as "assets issued and transferred using a distributed registry or blockchain technology." They also included popular synonyms of cryptocurrencies there.

However, now the department has reported that other concepts are proposed that do not contradict the latest SEC statements on cryptocurrencies. In their opinion, this classification will allow us to achieve the necessary understanding of the term that the agency is engaged in.

At the same time, there is no such definition in the agreed rules. The footnote says that the agency is only working on the definition. It also proposes to include it in the document of definitions and terms Form PF.

Recall that last fall, the head of the department said that digital assets with staking should be defined as securities. Last month, Jeremy Hogan also drew attention to the fact that the department has weak justifications regarding the case against Ripple. He argues that the coin cannot be defined as a "security" and is only partially defined as an "investment contract".

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