Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    X (Twitter)
    Blockchain Journal
    Home » SEC reaffirms that Bitcoin is not a security

    SEC reaffirms that Bitcoin is not a security

    0
    By BlockchainJournal on October 6, 2019 News
    BlockFi Overpaid bitcoins to its clients
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The US Securities and Exchange Commission (SEC) still believes that the first cryptocurrency is not a security.

    According to The Block , Cipher Technologies Bitcoin Fund has applied for registration of a closed interval fund and an investment company. The submitted documents indicate that Bitcoin is a security. SEC staff did not agree with this information, citing the Howie test and the Digital Asset Analysis Guide released earlier this year.

    “Among other things, we are not sure that Bitcoin buyers rely on third-party management skills and entrepreneurial efforts to make a profit. Thus, since Cipher intends to invest, in fact, all its assets in cryptocurrency, it does not meet the definition of an investment company in accordance with the Investment Companies Act of 1940. The company mistakenly filed an application in form N-2, ”the agency said.

    The SEC emphasized that if the first cryptocurrency was a security, then “there would be other significant problems”. For example, in this case, Bitcoin would universally qualify as a “publicly offered security”, and similar Cipher funds would play the role of underwriters.

    Among other things, the Commission notes that Cipher did not take into account issues related to the protection of investor rights, especially regarding pricing, storage and opposition to market manipulations.

    Cipher by Anonymous RXEhFb on Scribd

    Earlier, the fact that Bitcoin does not belong to the category of securities was announced by SEC head Jay Clayton.

    We also recall that recently, SEC Special Commissioner Hester Pearce expressed the opinion that cryptocurrencies in the future could become "Internet money."

    Subscribe to BlockchainJournal news on Facebook !

    << aside id = "unisender_subscribe_form-10" class = "widget unisender_form">

    BlockchainJournal.news

    BlockchainJournal.news

    Bitcoin Facebook Featured Investment SEC
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    BlockchainJournal

    Related Posts

    Tom Lee’s BitMine accumulates $320M more in Ether; its reserves now exceed $14 billion

    October 27, 20252 Mins Read

    Prenetics raises an additional $46.8 million to bolster its bold Bitcoin treasury strategy

    October 27, 20252 Mins Read

    Magic Eden’s $ME Token Soars 36% in 24 Hours: Are NFTs Making a Comeback?

    October 27, 20253 Mins Read

    Michael Saylor’s Strategy buys 390 BTC and raises its total reserves to 640,808 Bitcoin

    October 27, 20252 Mins Read

    BNB jumps 3% due to $1.69 billion burn and momentarily surpasses XRP

    October 27, 20253 Mins Read

    Crypto Investment Products See $921M Inflows as Hopes for Rate Cuts Rise

    October 27, 20253 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.