Joseph Lubin (one of Ethereum’s co-founders) said it is clear that Ether (ETH) – is a commodity and not a security.
Some regulators in the USA, including the SEC, have been somewhat uncertain regarding the coin’s status.
No Doubt That it is a Commodity
In a recent interview for Bloomberg, Lubin said it is a “forgone conclusion” that ETH should be classified as a commodity, or in other words, treated as gold, oil, natural gas, and other items. He also reminded that multiple watchdogs have stated that the token should not be considered a security.
“Regulators have spoken. The SEC has spoken. Bill Hinman made a speech, I think it was in mid-2018. It was disclosed that I think 18 of his colleagues at the SEC worked with him on the speech, so the SEC actually spoke. The CFTC has spoken very crisply a number of times that they consider ETH a commodity and not a security.”
Joseph Lubin, Source: Forbes
He said there are still a few regulators who have not recognized the “fact
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