CFTC & Congress Ready To Fight SEC on Ethereum Security Status

CFTC & Congress Ready To Fight SEC on Ethereum Security Status

we’ve heard rumors that they are
investigating the ethereum foundation
and it seems to be some sort of plot by
the SEC to categorize eem of security
what are you hearing about that it’s
raised attention and eyebrows on Capitol
Hill there are members who are very
angry with this because the cftc has
come out and said this is a commodity I
can’t say I would be shocked if the SEC
came out and said that eth was a
security because that has been aligned
with everything they’ve done to date and
trying to regulate the entire industry
besides Bitcoin alarm Bells started to
ring when ethereum moved over to a proof
of stake model and that said to the SEC
okay this looks more like a security and
an investment contract with staking and
validating than it did before when it
was under a proof of work consensus
mechanism there’s a host of members on
Capitol Hill who are ready to sound the
alarm Bells who ready to bring him up
and call attention to this

The SEC has a plan to classify Ethereum as a security – going against the CFTC’s classification of ETH being a commodity. Cody Carbone of The Digital Chamber shares his thoughts on the implications of this.

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