The post New Court Filings Reveals SEC Chair Gary Believed Ethereum Was a Security appeared first on Coinpedia Fintech News
As the final decision for spot Ethereum (ETH) exchange-traded funds (ETFs) in the United States draws closer, the debate on whether Ether is a security or a commodity has dramatically escalated. By now, it is safe to assume that the United States Securities and Exchange Commission (SEC) views ETH as unregistered securities.
Despite the bid by the Ethereum core developers to shift from the power-hungry Proof-of-Work (PoW) consensus mechanism to the Proof-of-Stake (PoS) method last year, the US SEC under Chair Gary Gensler has not changed the perspective.
US SEC Chair has Believed Ethereum Was a Security Despite the Ambiguity in Congress
According to a new court filing dated March 28, 2023, the head of the SEC’s Division of Enforcement, Gurbir Grewal, approved a formal order of investigation into Ethereum’s status as a security. Notably, Grewa
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