🚨 SEC Chairman Clayton confirms Commission staff analysis that found Ethereum is not a security

In a letter to U.S. Rep Ted Budd (NC-R), SEC Chariman Clayton confirmed prior staff analysis that Ethereum ($ETH) and similar tokens are not securities. Clayton states that the Howey test framework is not static and recognizes how digital tokens first defined as investment contracts, and therefore securities, can change overtime by how they are managed and exchanged.

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