So SEC Targets, Could Ethereum (ETH) Suffer The Same Fate As XRP? - Kakiforex | Forex markets for the smart money. So SEC Targets, Could Ethereum (ETH) Suffer The Same Fate As XRP? So SEC Targets, Could Ethereum (ETH) Suffer The Same Fate As XRP?

April 9, 2021

So SEC Targets, Could Ethereum (ETH) Suffer The Same Fate As XRP?

 In a recent conference with magistrate judge Sarah Netburn, Securities and Exchange Commission (SEC) senior attorney, Dugan Bliss told that the enforcement has yet to formally act on the legal status of Bitcoin (BTC) and Ethereum (ETH).


"No action has been taken to clarify Bitcoin and Ether are not securities," Bliss said.


Former SEC chairman Jay Clayton has repeatedly stressed the position of Bitcoin as a non-security, again Ethereum which is seen to receive more minimal impact related to crypto rules.


Similarly, former SEC finance director, Bill Hinman before retiring in 2018 also made a statement that the sale of Ether was not categorized in securities.



However, the allegation was rejected by Bliss, claiming it did not necessarily refer to the supervisor's view of Ethereum: "A high -ranking person claimed as from his point of view but so far no action has been taken to prove the SEC has said so."


Further reinforcing the allegations, future SEC chairman Gary Gensler stressed that Ether and XRP are not securities compliant.


Gensler also revealed personally he considers Bitcoin as a commodity: “I think actually in the SEC there is someone offering investment and securities contracts under the SEC and exchanges that operate there. Otherwise, Bitcoin is just considered a commodity. ”


Unlike Bitcoin, Ethereum mines half of its tokens before holding a coin offering (ICO).