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As per media sources and indirect signals, officials from the U.S. Securities and Exchange Commission (SEC) have initiated an inquiry into Ethereum to classify it as a security.
Multiple U.S. firms have received subpoenas from the SEC requesting documents and financial statements concerning their dealings with the Ethereum Foundation, according to Fortune. The regulator’s current activities are reportedly linked to its goal of designating ETH as a security.
The investigation into the Ethereum Foundation is indirectly supported by the absence of a message on the organization’s website, which indicated that the foundation is not under a confidential investigation. The omitted message also mentioned that the foundation plans to publicly share any governmental inquiries beyond standard business interactions. Pablo Pettinari, a Frontend Developer involved with the Ethereum Foundation website, shared this information in comments on GitHub.
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Analysts suggest that the regulator’s actions might be an effort to postpone the approval of spot Ethereum ETFs. Eleanor Terrett, a Journalist for Fox Business, conveyed this perspective. In light of this, Bloomberg analysts have reduced the likelihood of approval for these financial instruments by May from 70% to 25%.
U.S. lawmakers have also voiced their discontent regarding the SEC’s inconsistent and contradictory actions. Patrick McHenry, Chairman of the House Financial Services Committee, stated that Gary Gensler cannot arbitrarily define the SEC’s jurisdiction. Brian Quintenz, a former Member of the Commodity Futures Trading Commission, pointed out that the SEC had already explicitly acknowledged ETH’s status when it approved the issuance of Ethereum futures ETFs in 2023. He refutes the claim that the SEC’s position on ETH shifted due to the transition to the Proof-of-Stake algorithm, as this event occurred prior to the approval of Ethereum futures funds.
The U.S. Congress questioned the SEC’s authority to oversee the cryptocurrency market as early as last year. However, after several public hearings, the situation has not changed. In February 2024, representatives from the crypto exchange Kraken once again expressed concerns that the regulator’s actions exceeded its authority.
Сообщение SEC Investigates Ethereum появились сначала на CoinsPaid Media.
