Ethereum

Foundation

<h4><strong>This initiative is unfolding through an investigation that has seen U.S. companies involved with Ethereum receiving citations.</strong></h4> 
<p>The citations aim to collect records on interactions with the Ethereum Foundation, which governs and develops Ethereum.</p> 
<h5><strong>SEC Probes Ethereum Foundation in Legal Push</strong></h5> 
<p>This dampens the crypto industry’s hope for <a href="https://www.altcoinbuzz.io/?s=eth+etf" target="_blank" rel="noopener">Ethereum ETF</a> approvals, following the SEC’s nod to Bitcoin ETFs. The implications of the SEC’s legal campaign are far-reaching, not just for Ethereum but for the broader crypto industry.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">JUST IN: <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">SEC is waging a legal campaign to classify Ethereum as a Security <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
 <p>The SEC’s probe of the Swiss-based Ethereum Foundation began after ETH shifted to proof-of-stake in September of 2022</p> 
 <p>This hurts the chances of an Ethereum ETF by BlackRock <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26a0.png" alt="⚠" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/WFpVzFh3uS">pic.twitter.com/WFpVzFh3uS</a></p> 
 <p>— Simply Bitcoin (@SimplyBitcoinTV) <a href="https://twitter.com/SimplyBitcoinTV/status/1770499082219352291?ref_src=twsrc%5Etfw">March 20, 2024</a></p>
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<p>Classifying Ethereum as a security could drastically change crypto regulations, limiting flexibility and innovation. So, the news disappoints firms like BlackRock, who were optimistic about SEC approval for Ethereum ETFs, signaling a significant crypto endorsement.</p> 
<p>According to <a href="https://www.coindesk.com/business/2024/03/20/ethereum-foundation-under-investigation-by-state-authority/" target="_blank" rel="noopener">Coindesk</a>, the probe was reportedly sparked by Ethereum’s transition to a “proof-of-stake” governance model in September 2022. A change from the more energy-intensive “proof-of-work” system. This move to greater efficiency for Ethereum has also attracted regulatory attention.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Here's whats going on with the <a href="https://twitter.com/hashtag/SEC?src=hash&amp;ref_src=twsrc%5Etfw">#SEC</a> and <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> </p> 
 <p>Blackrock launches tokenized asset fund on the Ethereum blockchain.</p> 
 <p>Blackrock deposits $100 million <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDC</a> on the Ethereum network.</p> 
 <p>I think what happened next is that the SEC was ordered by <a href="https://twitter.com/hashtag/Blackrock?src=hash&amp;ref_src=twsrc%5Etfw">#Blackrock</a> to pursue a legal campaign…</p> 
 <p>— Toby Cunningham (@sircryptotips) <a href="https://twitter.com/sircryptotips/status/1770499224766943741?ref_src=twsrc%5Etfw">March 20, 2024</a></p>
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<h5><strong>More About Ethereum &amp; The SEC</strong></h5> 
<p>The nature of the citations issued has varied, with some described as narrow and specifically targeted at the Ethereum Foundation. These legal requests have emerged in recent weeks, signaling an intensification of the SEC’s scrutiny.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> BREAKING <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> Mike Novogratz dives into the "Great Debate" happening at the SEC — Is Ethereum a security? </p> 
 <p>His insight suggests an <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETF approval is imminent, citing existing future products. </p> 
 <p>Do you agree with this analysis ? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f914.png" alt="🤔" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ad.png" alt="💭" class="wp-smiley" style="height: 1em; max-height: 1em;"><br>Comment Below &amp; Follow For More! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;">… <a href="https://t.co/WLj7F54TYx">pic.twitter.com/WLj7F54TYx</a></p> 
 <p>— Good Morning Crypto (@AbsGMCrypto) <a href="https://twitter.com/AbsGMCrypto/status/1767922181999129063?ref_src=twsrc%5Etfw">March 13, 2024</a></p>
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<p>This legal challenge from the <a href="https://www.altcoinbuzz.io/?s=SEC" target="_blank" rel="noopener">SEC</a> raises critical questions about the future of Ethereum and the broader implications for the cryptocurrency market. If Ethereum is designated as a security, the decision could set a precedent that affects numerous other cryptocurrencies and projects. Moreover, it may deter institutional investment in the crypto sector, given the added regulatory complexities and uncertainties.</p> 
<p>As the situation unfolds, the crypto community and investors are watching closely.</p> 
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<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/sec-targets-ethereum-as-a-security-impacting-etf-hopes/">SEC Targets Ethereum as a Security, Impacting ETF Hopes</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

SEC Targets Ethereum as a Security, Impacting ETF Hopes

Altcoin Buzz

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