The head of the US Securities and Exchange Commission (SEC), Jay Clayton, in an interview with CNBC said that bitcoin is not a security and countered it with traditional money.
He said that Bitcoin can replace the dollar, yen or euro, "so we can not classify it as a security class."
According to Clayton, tokens can be referred to securities, as they fulfill the role of digital assets and the US financial controller controls this area.
If I give you money, and you go and make a venture. And in return for me giving you my money you say: "I'll give you the return." Or you can get the return by selling your token to somebody on the secondary market - that is a security.
Earlier, Jay Clayton said that the SEC intends toughen the fight against fraudulent ICO.