Ethereum Welcomes SEC Ruling and Praises Chinese Blockchain

Anthony Di Iorio, co-founder of Ethereum, has openly praised Qtum and VeChain, two of China’s fast-growing blockchain ventures.

Di Iorio said in an interview with Bloomberg, “The biggest stake for me is in Qtum and VeChain right now, the two Chinese projects. There’s much more opportunity in newer ones if you can identify them.”

The Qtum platform (officially based in Singapore, although most of the Qtum team operates out of China) makes use of Ethereum’s smart contract system as well as Bitcoin’s core fork. Earlier this month, Qtum announced it would renew its marketing efforts, which it had halted after a sweeping Chinese crypto crackdown initiated in September last year.

VeChain implements blockchain solutions for the supply chain. The company is currently involved in a blockchain-powered project of trading French wine in China. VeChain has announced it will release a mobile wallet in July that will allow account holders to trade ERC20 tokens outside of an exchange.

Recently, William Hinman, Director of Corporate Finance at the US Securities and Exchange Commission (SEC) has stated that Ethereum is not to be considered a security which removes it from the jurisdiction of the SEC. With regard to that statement, Di Iorio said, “When we set it up and launched it, we were pretty comfortable that it wasn’t a security. It’s great to get the reaffirmation that it’s not.”

The market has not responded negatively to the Hinman’s statements, and Ethereum remains poised for a record-setting year if prices continue to escalate toward the projected USD 2,500 mark.

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