Ethereum

Algorand

Dash

Security

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
The U.S. Securities and Exchange Commission (SEC) has <a href="https://www.sec.gov/newsroom/press-releases/2024-125">indicated</a> that it views Ethereum, the second-largest cryptocurrency as a non-security, in its settlement with the cryptocurrency trading platform eToro.&nbsp;
As part of its settlement deal with the agency, eToro has agreed to halt trading activity in virtually all cryptocurrency assets apart from Ethereum, Bitcoin, and Bitcoin Cash.&nbsp;
The eToro trading platform has agreed to shell out a relatively measly&nbsp; $1.5 million fine.&nbsp;&nbsp;&nbsp;
It was accused violated Section 15(a) of the Exchange Act by acting as a broker and acting as a clearing agency. The SEC also alleged that eToro acted as a custodian and securities depository. However, the SEC did not bring or settle charges with eToro. &nbsp;&nbsp;
Last July, the Israeli investment platform moved to ditch Dash (DAH), Algorand (ALGO), and other cryptocurrencies after they were named as securities by the agency.&nbsp;
In August 2023, eToro was also sued by the Australian markets regulator over its leveraged derivative contract that made it possible to speculate on crypto.&nbsp;&nbsp;
<h2 id="the-lack-of-clarity">The lack of clarity&nbsp;</h2>
Legal expert Drew Hinkes has explained that private settlement orders are not precedential, which means that Ethereum's security status remains unclear.&nbsp;
SEC Chair Gary Gensler has repeatedly refused to comment on Ethereum's security status.&nbsp;
As <a href="https://u.today/sec-boss-hints-that-ethereum-eth-is-a-security">reported by U.Today</a>, the SEC boss hinted that the Ethereum token could be an unregistered security in his interview with New York Magazine.&nbsp;
In June, the SEC dropped its investigation into Ethereum 2.0 in a big win for the cryptocurrency. &nbsp;

SEC Signals That Ethereum Is Not Security

Table of Contents

U_Today

Other articles published on Sep 12, 2024

3DOS Launching Decentralized “Uber for 3D Printing” on Sui (12 Sep)

FBI Finds Crypto Fraud Losses Hit $5.6B in 2023, Up 45% from 2022

Arkham identifies the wallets of Ionic Digital, heir of Celsius Network’s mining operations

Hong Kong Solidifies Crypto Hub Status with Bitcoin ETF Growth

Kampela Secures Polkadot Network Investment, Becomes First Fully DAO-Funded Hardware Wallet

Should These Declining Solana On-Chain Metrics Worry SOL Holders?

Join our free newsletter for daily crypto updates!