Fortune Reports The SEC Seeks To Classify Ethereum As A Security

The Ethereum foundation is currently faced with questions from an unnamed “state authority” according to the latest reports coming from GitHub repository.

Ethereum in the crypto community news

The inquiry being conducted is confidential and is taking place at a time when there are significant changes happening to Ethereum’s technology.

It has been also reported the fact that the native asset of Ethereum, ETH, which is being sought after by many American investment companies to be offered as an exchange-traded fund, is at a possible inflection point.

Despite approving a series of Bitcoin ETFs recently, the Securities and Exchange Commission (SEC) has been slow to support these efforts.

Coindesk has reported that the SEC is seeking to classify ETH as a security, which could have significant implications for Ethereum, an ETH ETF, and the entire crypto industry.

According to Fortune, the financial regulator has issued investigative subpoenas to several US companies in recent weeks.

Here is another interesting tweet that brings juicy details to the table:

Someone commented: “If $ETH is deemed a security by the SEC and CTFC, I will LMFAO until I vomit. The amount of shite they gave $XRP was unfounded and unbelievable. While it would crash the crypto market hard and be painful. I would still be LMFAO.”

We’ll just have to wait and see what happens next.

Rada Mateescu
I'm hungry for truth, thirsty to learn, and eager to share. At Optic Flux, my goal is to deliver breaking juicy health, financial, and tech/science-related content. I focus on all that's meaningful and impactful for my readers.