The crypto industry finds itself at a pivotal juncture as the Swiss Ethereum Foundation received a “voluntary enquiry” from an undisclosed “state authority” which demanded confidentiality, as Bitcoinist reported yesterday. This revelation, made through the removal of the Warrant Canary from its website and a note in a Github repository, marks a first in the foundation’s history.
A little later, a report by Forbes surfaced, claiming that the United States Securities and Exchange Commission (SEC) is the agency, trying to declare ETH as a security. This action comes in the wake of the SEC’s approval of Bitcoin ETFs in January and the looming mid-May deadline for spot ETH Exchange Traded Funds (ETFs).
The SEC’s 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. Seemingly, the SEC’s probe of the Ethereum Foundation aims to categori
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