https://bitfudge.com/wp-content/uploads/bitfudge_SEC_scales_ETH.png

The Chairman of the Securities and Exchange Commission has hinted, in an [official response](https://coincenter.org/files/2019-03/clayton-token-response.pdf) to a US House of Congress Representative that it agrees with the previous statements made by other SEC representatives, specifically those of William Hinman, who had stated that Ethereum (ETH) did not look to fall into the definition of a security.

As expected, the key test will be the **Howey Test**, a long-established method used to determine whether something is a security. The letter details the process of consideration, which isparticular to the facts and circumstances of each transaction:

[Read our full article here.](https://bitfudge.com/20190313-take-a-hint-ethereum-not-a-security-fails-howey-test/)