Bitcoin is not security. ICOs should be regulated.

Cryptocurrency became the focus during the hearing between American Congress and Securities and Exchange Commission. In the hearing on 26, April, they discussed the regulation of cryptocurrencies. They thought the environment now is disordered.

Considering as the authority in the topic of cryptocurrency, Jay Clayton described it as complicated area, which was divided into currency and ICOs. He said, “Most people don’t think bitcoins are security, but I think they are.”

“If bitcoins are regarded as security, we should regulate it.” He added.

Clayton admitted that the rise of bitcoin value brought large financial profit. However, the policy makers are still thinking how to regulate the market. While as the way of payment, cryptocurrency is not within the compass of SEC.

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