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April 30, 2024

SEC And Gary Gensler Believed Ether Was A Security For At Least A Year, New Court Docs Reveal

This news refers to recent court documents that reveal the U.S. Securities and Exchange Commission (SEC) and its Chair, Gary Gensler, at one point considered Ether (ETH), the native cryptocurrency of the Ethereum network, to be a security. This classification is significant as securities are subject to stringent regulatory control compared to commodities such as Bitcoin. While Gensler has previously stated that many cryptocurrencies may be considered securities, the status of Ether was not made clear until these court documents were revealed. However, it's important to note that just because Ether was considered a security at one point does not mean it is currently classified as such. The SEC has not made a definitive statement on Ether's classification to date. The regulatory environment around cryptocurrencies remains complex and evolving. Always get updated and accurate information from credible sources or consult with a financial advisor when dealing with cryptocurrencies.