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According to reports from Cointelegraph, the U.S. Securities and Exchange Commission (SEC) is attempting to classify Ethereum as a security and has issued several subpoenas to relevant companies.
As reported by Fortune on March 20, the SEC's investigation into the Ethereum Foundation could grant the commission regulatory authority to define Ethereum as a security. The foundation indicated through GitHub that it might be undergoing investigations by "state authorities."
Several U.S. companies have reportedly received subpoenas from the SEC, requesting documents and financial records related to transactions with the Ethereum Foundation. According to sources familiar with the matter, the SEC initiated a movement to classify ETH as a security in 2022, following the transition of blockchain from proof of work to proof of stake.
SEC Chairman Gary Gensler has consistently refused to directly address whether ETH falls under the commission's jurisdiction as a security during his tenure, despite stating that Bitcoin, Ethereum, and other cryptocurrencies were "not securities" in 2018. The commission has approved exchange-traded funds (ETFs) linked to Ethereum futures but has yet to decide whether to approve or reject spot Ethereum ETFs—many experts expect a decision in May. |
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Post time 29-3-2024 22:43:45
