SEC Chairman Gensler’s Shifting Stance on Ethereum’s Security Status

SEC Chairman Gary Gensler recently shied away from proclaiming Ethereum as a security, even when pressed by Republicans in the House Financial Services Committee in Congress last April. Did Gensler Step Back? Before his tenure at SEC, Gensler had a much clearer view on which crypto tokens were considered securities and which ones weren’t. He had previously stated several times that Bitcoin, Ethereum, Litecoin, and Bitcoin Cash were unlikely to cross the threshold, whereas tokens released through initial coin offerings (ICOs) did. This distinction is intricate and at the core of numerous legal disputes involving major names in crypto, including Ripple and Coinbase. If a token is determined to be a security, it would fall under stricter regulatory scrutiny and under the jurisdiction of the SEC. In a corporate crypto conference organized at Bloomberg’s headquarters in 2018, Gensler expressed that over 70% of the crypto market was made up of […] The post SEC Chairman Gensler’s Shifting Stance on Ethereum’s Security Status appeared first on COINTURK NEWS.