EddieJayonCrypto
21 Mar 24
The crypto industry is experiencing a pivotal moment as the Swiss Ethereum Foundation received a "voluntary enquiry" from an undisclosed "state authority" and the SEC is attempting to declare ETH as a security. The inquiry seeks extensive documentation from US companies on their inter...
The crypto industry is experiencing a pivotal moment as the Swiss Ethereum Foundation received a "voluntary enquiry" from an undisclosed "state authority" and the SEC is attempting to declare ETH as a security. The inquiry seeks extensive documentation from US companies on their interactions with the Ethereum Foundation, particularly after Ethereum’s transition to a Proof of Stake (PoS) model. A16Z Global Head of Policy and Coinbase Chief Legal Officer have vocally opposed the SEC’s attempt and reinforced Ethereum’s classification as a commodity rather than a security.
The Swiss Ethereum Foundation caused a stir by revealing a "voluntary enquiry" from an undisclosed "state authority," marking a first in the foundation's history. Meanwhile, the SEC is reported to be trying to declare ETH as a security, seeking extensive documentation from US companies on their interactions with the Ethereum Foundation post-PoS transition. A16Z Global Head of Policy has actively opposed the SEC's move, claiming that the ETH ETF approval evidenced the SEC's acknowledgment of ETH as a non-security. Similarly, Coinbase Chief Legal Officer reinforced Ethereum's classification as a commodity rather than a security, citing the consistent position of the CFTC and the federal courts. These events mark a crucial period for the future regulatory status of Ethereum.
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