Gary Gensler, chairman of the U.S. Securities and Exchange Commission , still won’t give a straight answer on whether Ethereum legally classifies as a security.
Since then, Gensler and the agency have denied making any official statements or proclamations regarding their views on ETH and avoided the question numerous times when asked. There’s reason to believe the agency views ETH differently, however. Much like Bitcoin, the SEC has approved trading of CME Ether futures. According to Bloomberg ETF analyst James Seyffart, this implies that the asset is viewed as a commodity already.
“It would then put our registrants – our exchanges who list Ether as a futures contract – in non-compliance with SEC rules as opposed to CFTC rules,” Benham explained.Though avoiding the actual question, Gensler made sure to re-emphasize that crypto is a “highly speculative asset class,” referencing Bitcoin’s volatility over the past week. He said:
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