Ethereum Likely Not a Security, Suggests SEC in Recent eToro Settlement, Says Coinbase Legal Chief
Washington, D.C. – A settlement between the U.S. Securities and Exchange Commission (SEC) and trading platform eToro has led to significant discourse in the cryptocurrency industry regarding Ethereum’s legal status. Ethereum, widely regarded as the second most prominent cryptocurrency after Bitcoin, has lingered in an uncertain regulatory space, prompting discussions about its classification as a commodity or a security. Paul Grewal, Chief Legal Officer at Coinbase, the largest cryptocurrency exchange in the United States, stated that the SEC has indirectly acknowledged Ethereum as a non-security through this settlement. The agreement requires eToro to cease offering … Read more