The SEC's go-to person on digital currencies and introductory coin contributions (ICOs) says that bitcoin and ether are not securities but rather that many, yet not all, ICOs are securities and will go under the administrative control of the SEC and important securities laws.

"Fundamental to deciding if a security is being sold is the means by which it is being sold and the sensible desires for buyers," William Hinman, leader of the Division of Corporation Finance at the SEC, said in a discourse at the Yahoo All Markets Summit: Crypto meeting in San Francisco.

Hinman said the essential issue in deciding if digital currencies and ICOs were securities was the desire for an arrival by an outsider, particularly whether there was a man or gathering that supported the creation and offer of the advantage, and who assumed a critical part in its improvement and upkeep. For buyers of the advantage, the key is whether they are looking for an arrival on the speculation.