Crypto Blog
While Bitcoin has been recognized as a commodity, the same cannot be said for Ethereum’s status, which has been more ambiguous due to its initial coin offering in 2014.
The filing indicated that the SEC began an investigation dubbed “Ethereum 2.0” due to its belief that potential sales of certain securities, including Ether, had occurred since at least 2018. If the asset were deemed a security by the Gensler-led SEC, it would contradict previous guidance given by former Chairman Jay Clayton.
New filings reveal that the five-member commission approved the “Ethereum 2.0” investigation on April 13, 2023, just five days before Gensler appeared before the House Financial Services Committee, where he avoided questions from committee Chairman Patrick McHenry regarding Ethereum’s regulatory status.
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