Daniel Kuhn is a deputy managing editor for Consensus Magazine. He owns minor amounts of BTC and ETH.
, the native token of the second-largest blockchain, Ethereum, as a security. The move would undoubtedly have severe repercussions for the entire crypto industry, including derailing plans for an spot ETH exchange-traded fund.
He has, however, launched lawsuits against a number of U.S.-based and international crypto exchanges including Coinbase, Kraken and Binance on the grounds that they were selling securities to U.S. investors without the appropriate registrations. These include assets like Cardano’s, a point that strikes crypto attorney Ignacio Ferrer-Bonsoms as contradictory.
Brian Frye, the Spears-Gilbert Professor of Law at the University of Kentucky, said the best reason against classifying ETH as a security “is that ETH looks more like BTC than any other token.” He added that “the SEC has repeatedly said it considers BTC a commodity, rather than a security, I think primarily because of the lack of centralized control.”
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Spot Ether ETF: 'No Grounds for Disapproval,' Major Expert SaysRecent SEC meeting with Grayscale, Coinbase representatives is good news for spot Ethereum (ETH) ETF enthusiasts
Read more »
Why ETH ETFs Might Not Get Approved; 3AC's Kyle Davies Not Sorry'CoinDesk Daily' host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a Bloomberg analyst's prediction that ether ETFs likely won’t get approved in May.
Read more »
Why You Really Do Need Eclipse Glasses—and Why You Should Buy Them Right NowAlso, here’s why you can't look directly at the sun.
Read more »
Android Users Can Now Store DOGE, SHIB, ETH, MATIC and Other Coins on Robinhood WorldwideRobinhood's wallet initially added support for iOS last March
Read more »
Starknet fixes STRK token airdrop issues for Immutable X and ETH pool stakersIssues with Immutable X users and pooled ETH stakers getting their STRK airdrop are fixed, states the Starknet Foundation.
Read more »
Ether Tumbles 6% as ETH ETF Hopes Dim Amid Regulatory Probe ReportsKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Read more »