Why is the SEC investigating the Ethereum Foundation, even though the foundation has previously asserted that ETH is a commodity?
Posted on April 2, 2024 at 7:00 AM EST.
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On March 20, Fortune reported that the SEC is investigating the Ethereum Foundation and exploring legal ways to classify ETH as a security.
Sam Enzer, Partner at Cahill Gordon & Reindel, and Greg Strong, Partner at DLx Law, joined Laura to discuss all about the investigation and its implications.
Guests speculate about the motives behind the SEC investigation and discuss the chances of the Spot Ether ETF being approved. They also discuss the recent ruling in SEC v. Coinbase, in which the judge rejected claims that Coinbase's wallets were acting as unregistered intermediaries, but allowed the rest of the case to proceed. did.
Finally, they mention that if the SEC were to prevail in the lawsuit filed against them, it would have a devastating impact on the crypto industry. Ethereum This is security, and that's what they're focused on in the coming weeks and months.
Show highlights:
- Whether the investigation into the Ethereum Foundation has been confirmed and why the SEC is doing this
- Why Sam Enzer thinks it's “completely wrong and ridiculous” for the SEC to claim ETH is a security
- The number of people working on Ethereum will determine whether Ethereum can be claimed to be decentralized or not.
- How does the SEC justify ETH as a security, and whether the foundation conducts Ethereum management activities?
- Is the SEC looking for evidence against Spot Ether ETFs?
- Why SEC Chairman Gary Gensler has changed many of his previous stances on crypto assets and whether he is acting in good faith
- The ongoing battle between the SEC and CFTC and the need for Congress to regulate the industry
- What are the likely outcomes of this investigation and whether there will be litigation in the near future?
- What will be the impact if ETH is classified as a security?
- Whether Prometheum can launch a platform offering custody of ETH as securities prior to SEC designation
- Why Sam believes Spot ETH ETF will be rejected on May 23rd
- Sam said the SEC had already made up its mind before gathering the facts.
- Whether the recent ruling in the Coinbase case will impact potential litigation against EF
- Is Ethereum trading a securities transaction? What is the difference between primary sales and secondary sales?
- What to expect in terms of regulatory and enforcement actions in the short term given current case numbers
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episode transcription
guest:
- Sam Enzer, Partner Cahill Gordon & Reindel
- Previous appearances on Unchained:
- Greg Strong, DLx Law Partner
Link
Ethereum Foundation Survey:
Ethereum security status
- Former SEC Commissioner William Hinman said he believes Ethereum is not a security
coinbase incident
promethium
More SEC/Crypto News
