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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Getty Images Stock Trading Suspended by NYSE

The New York Stock Exchange has suspended trading of Getty Images stock as of September 29, 2023, due to the company's ongoing financial issues and significant debt.

user avatarJacob Williams

Getty Images Faces Bankruptcy Risks Amid Rescue Financing Talks

Getty Images is in confidential discussions with lenders for a rescue financing deal, which may lead to bankruptcy and a lender takeover.

user avatarZainab Kamara

Tavus Launches Griffin, a Revolutionary AI for Human Interaction

Tavus introduces Griffin, an AI model that convincingly simulates human conversation during live video calls.

user avatarAyman Ben Youssef

Griffin Outshines Previous AI Models in Live Conversation Tests

Griffin outperforms its predecessor GriffinLite and other AI models in live conversation tests.

user avatarSon Min-ho

Dolphin Token Listed on Upbit with Three Trading Pairs

Dolphin (POD) has been officially listed on Upbit, one of South Korea's leading cryptocurrency exchanges, with three trading pairs: KRW, BTC, and USDT.

user avatarNguyen Van Long

Optimism Releases Opnode Update to Enhance Sequencer Performance

Optimism has launched a new opnode update aimed at improving the performance of sequencers and preventing configuration errors from causing upgrade issues.

user avatarTando Nkube

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.