SEC Defines Ethereum Status: Not a Security, Confirms Coinbase Counsel

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Settlement with eToro
  2. Criticism from Coinbase
  3. Expert Warnings


    4. The U.S. Securities and Exchange Commission (SEC) has already recognized that Ethereum (ETH) is not a security, according to Paul Grewal, chief legal officer at Coinbase. This observation came after the SEC reached a settlement with trading platform eToro.

    Settlement with eToro

    The SEC reached a settlement with eToro, stipulating that the platform should stop offering all crypto tokens for trading apart from Bitcoin (BTC), Bitcoin Cash (BCH), and Ethereum (ETH). This step is the strongest signal yet that the SEC might view Ethereum as a non-security.

    Criticism from Coinbase

    Coinbase's chief counsel criticized the SEC for not explaining the rationale behind classifying Bitcoin and Ethereum as non-securities, while other tokens are viewed as securities. "There is no plan, no framework, no logic, no due process, and certainly no respect for the law," he noted.

    Expert Warnings

    It is still unclear whether Ethereum is entirely free from legal jeopardy. Jake Chervinsky, chief legal officer at Variant, warned that settlements do not establish new legal precedents. "We may see more like eToro from the SEC and other agencies this month, all with orders pretending to establish new precedent. None do," he said in a social media post.

    While the settlement with eToro is a significant step, it does not mean a definitive resolution on the legal status of Ethereum. Experts caution that interpretations of such settlements need to be approached carefully.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

BNB Chain Sets Activation Schedule for Lorentz Hard Fork

chest

BNB Chain developers have announced the activation schedule for the Lorentz hard fork, set to occur at block height 42,100,000, introducing BEP341 transaction priority changes aimed at reducing gas costs.

user avatarLi Weicheng

The Growth of Actively Validated Services in EigenLayer

chest

EigenLayer's success in restaking relies on the growth of Actively Validated Services (AVSs) that utilize restaked security, which is essential for generating sustainable fees and ensuring the overall success of the restaking model.

user avatarBayarjavkhlan Ganbaatar

EigenLayer Surpasses 5 Million ETH in Restaking Deposits

chest

EigenLayer has achieved a significant milestone by crossing 5 million ETH in restaking deposits, indicating the rapid growth of the restaking market.

user avatarAisha Farooq

Uniswap v4 Hook Library Expands with New Features

chest

Uniswap has recently expanded its v4 hook library by introducing automated liquidity management tools, allowing developers to customize liquidity pool behavior and enhance DeFi design.

user avatarTenzin Dorje

Optimism Launches Superchain Interoperability Upgrade on Sepolia Testnet

chest

Optimism has successfully launched its Superchain interoperability upgrade on the Sepolia testnet, allowing developers to test cross-L2 messaging across OP Stack chains.

user avatarMohamed Farouk

XRP Ledger Achieves Key Milestone with AMM Amendment

chest

The XRP Ledger has achieved 80 validator consensus for its Automated Market Maker amendment, marking the start of the activation window for native AMM functionality.

user avatarElias Mukuru

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.