SEC Chair Clarifies Agency’s Position on Securities, ICOs

The head of the SEC has clarified how his agency defines what is or is not a security, saying that the tokens used in initial coin offerings (ICOs) are securities, whereas coins like Bitcoin are not.
SEC Clarifies Position on Securities, ICOsJay Clayton, the head of the U.S. Securities and Exchange Commission (SEC) reassured listeners of CNBC yesterday, that the agency won’t change the rules for how it defines what is and what is not considered a security when it comes to cryptocurrency.&l