Ether Doesn't Fall Under SEC Rules

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The price of Ether surged roughly 11 percent to $526 a coin on Thursday after a Securities and Exchange Commission official said the cryptocurrency doesn’t have to adhere to the agency’s rules.

William Hinman, an SEC director, said the agency doesn’t view Ether as a security. The SEC made the determination after deciding the Ethereum network is “sufficiently decentralized,” Hinman said at the Yahoo Finance All Markets Summit.

The comments may be reassuring news to digital money investors, who

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