Ethereum Foundation Advisor William Mougayar: SEC Wants to Regulate Cryptocurrencies-(Ethereum will defeat Bitcoin)

William Mougayar, one of the advisors of the Ethereum Foundation, who is a writer of The Business Blockchain, is in an interview with the American press.  He criticized the US Securities and Exchange Commission (SEC).

SEC to Regulate Cryptocurrencies

In the days when the SEC went to regulate cryptocurrencies, Mougayar criticized the institution. He has blamed the SEC officials for not undersanding the key components of the industry. Mougayar stated that the SEC did not fully understand the incident, and stated that there was a lot of confusion about it; he used the following expressions:

“The SEC is still trying to educate themselves, not just educate the public … Right now they are still grappling with it and for them the box that they play in is that they see all these cryptocurrencies as a security. But in reality not everything is a security. They want everything to play in that box.”

When answering a question about whether the SEC wants to keep digital currency classified as a security, specifically so they can regulate it, Mougayar responded:

“Exactly. That’s their box, the box they play in. They see everything as a security and they are trying to fit a square peg into a round hole, but not everything is a security right now.

Mougayar, who was asked by Jack Dorsey about the exploitation of Internet currency for Bitcoin, said he joined the Twitter CEO but Bitcoin would not be the only one on the scene. A successful consultant who said that other cryptocurrency would serve this purpose bu speaking positively for Ethereum.

Ethereum will sooner or later Defeat Bitcoin

Mougayar stated that Ethereum will sooner or later defeat Bitcoin, which is why the Ethereum platform is a hub for ventures, investment firms and all other businesses. Mougayar said, What’s important is not just the technology itself – it’s who is using it.”  for the comparison between Ethereum and Bitcoin.

Ethereum Price-Bitcoin Price Today

Name Price24H (%)
Bitcoin (BTC)
$7,222.46
0.52%
Ethereum (ETH)
$144.32
0.08%

At the same time, Mougayar said that the areas of use of crypto money are increasing and gradually they are becoming part of everyday life. Now that cryptocurrency is just a speculative vehicle. Mougayar pointed that  53 percent of Ethereum money transfers as moving through smart contracts, adding that this is a significant development.

Meanwhile, in the past few days, the the Office of Investor Education and Advocacy at the SEC continued to sell a fake first digital coin offering (ICO ) internet page . It is stated that the purpose of this website is to raise awareness and investor education about the possibilities of a possible fraud ICO.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.