A top Securities and Exchange Commission (SEC) official said Ether is not a security, meaning the world's second most valuable cryptocurrency (behind bitcoin) will not likely fall under the agency's purview.The proclamation by the SEC's director of corporate finance, William Hinman, will bring a sigh of relief to investors and cryptocurrency miners who were concerned regulating Ether would affect its value.Ether price soared following Hinman's comments.In May, reports surfacedthat Ethereum was under regulatory scrutiny by the SEC, which was considering whether the blockchain-based digital currency should be classified as a commodity or a security.