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

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

BNB Smart Chain Set to Activate Pasteur Hard Fork

chest

BNB Smart Chain is set to activate its Pasteur hard fork on August 25, introducing significant network changes.

user avatarKaterina Papadopoulou

TAC Halts Block Production Due to Supply Exploit

chest

TAC, a Cosmos-based EVM sidechain connected to the TON ecosystem, has halted block production after a supply-related exploit.

user avatarTomas Novak

The Need for Reliable Data in Real Estate Tokenization

chest

The need for reliable pricing data in real estate tokenization is crucial due to the unique challenges it faces compared to liquid crypto assets.

user avatarMaya Lundqvist

TON Foundation to Permanently Shut Down Legacy Bridge on September 1

chest

The TON Foundation has confirmed the permanent shutdown of its legacy bridge on September 1, requiring users to transition their wrapped TON and related assets back to native forms.

user avatarLeo van der Veen

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.