Rejoice or Bemoan? SEC's Ether Comments Divide Crypto

As you might expect if you've been following 2018's regulatory drama, the online crypto community subsequently exploded with commentary.

Advocates for cryptocurrency took it as an affirmation of their views on securities law, while legal experts who expected the SEC to come down swiftly on the industry were more bewildered.

"The SEC has just abdicated responsibility for enforcing securities laws in the United States," or so wrote blockchain entrepreneur and U.K. lawyer Preston Byrne.

The takeaway from this side of crypto Twitter? Compliance is a long game.

In his full remarks, Hinman also explained how the SEC might make such decisions, and he didn't exactly say there wouldn't be any enforcement.

As New York Times reporter Nathaniel Popper reminded us, even if we didn't get a ruling, we did get a window into SEC thinking on the issue that goes a bit beyond what they've issued before.

Crypto Twitter didn't pass up the chance to party, a sentiment that was largely influenced by market performance.

The price of ether surged immediately following the news about 8.8 percent, according to the CoinDesk Bitcoin Price Index, as did many other coins.

Still, even bitcoin's price rose on the news, a development that put a stop to what was otherwise a dreary Wednesday in the normally irreverent land of crypto Twitter.

As always, the tweets are a reminder of an old axiom: Be #craeful what you read on crypto Twitter!