Why would that be relevant? It happened, that’s all that matters.
Edit: the context of this is the question of whether Ethereum is a security. The SEC has already ruled that it is, and the ruling came down to the fact that it had a presale (via the Howey test).
It's not clear yet that the SEC has any jurisdiction over cryptocurrencies. At this point, their rulings are empty, and perhaps it will be decided in court.
They have jurisdiction over securities. Things like the Howey test are used to determine if something is a security. Ethereum meets that bar. Whether bitcoin is a security isn’t so clear. Not by the Howey test at least.
> That will need to be determined in the courts or congress, not by a regulatory bully.
The SEC was set up by congress, the Securities Act of 1933 and the Securities Exchange Act of 1934 and several others [1]. The Howey test was made by the courts and at least finalized by the supreme court [2].
I dont see how posting trivia about the SEC's origin take away from it now being moat protecting, outdated entity. It needs to get back to what it was designed for - 20th century regulation, they are clearly showing their uselessness in the 21st.
Maybe they don't have jurisdiction over crypto, but they definitely have jurisdiction over business entities with American presence. If they decide that you're accepting cash dollars for something security-like, it doesn't particularly matter what the underlying assets are, I don't think.
Edit: the context of this is the question of whether Ethereum is a security. The SEC has already ruled that it is, and the ruling came down to the fact that it had a presale (via the Howey test).