Former SEC Chairman: Ether is more like "Broadway tickets" than a fundraising tool

04/22 06:48

In a new interview with CNBC, former SEC chairman Jay Clayton said he agrees with current SEC chairman Gary Gensler that a large portion of cryptocurrencies could fall into the category of securities, according to U.T. Today. When asked if Ether would be considered a potential unregistered security, Jay Clayton used the analogy of Broadway theatre tickets, explaining that if, as a production of a Broadway play and a future ticket is obtained, then that ticket would be considered a security, but if the show is successful and the ticket is sold, then the ticket is no longer a security but just a ticket, a logic that could also be applied to Ether . Jay Clayton believes that Ether is more of a "Broadway ticket" than a means of raising money, although he admits that he doesn't know all the facts about the matter.
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