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Allegations that the SEC has taken action to classify Ethereum as a security and launched an investigation into the Ethereum Foundation are occupying the agenda of the cryptocurrency world.
Some people argue that Ethereum has become a security with its transition to the Proof of Stake consensus mechanism. However, Brian Quintenz, head of global policy at venture capital firm a16z, made a statement that this situation is unlikely.
Quintenz reiterated that Ethereum is not a security.
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Quintenz reminded the public of several important points:
<ul>
 <li>
 <blockquote>
 When the SEC allowed Ethereum (ETH) Futures Exchange Traded Funds (ETFs) to trade on regulated securities exchanges, it explicitly acknowledged that Ethereum is not a security and is outside its jurisdiction.
 </blockquote></li>
 <li>
 <blockquote>
 This approval decision for ETFs was made in October 2023, more than a year after Ethereum switched to Proof of Stake (PoS) consensus in September 2022. This means that, according to the SEC, Ethereum is not a security as of October 2023.
 </blockquote></li>
 <li>
 <blockquote>
 If the SEC had any doubts about Ethereum's regulatory status in October 2023, it would not have approved the ETF. If Ethereum were truly a security, the futures contracts listed by the Commodity Futures Trading Commission (CFTC) on which the ETFs are based would be illegal.
 </blockquote></li>
 <li>
 <blockquote>
 Additionally, if Ethereum were a security, the Ethereum Futures ETF would be an illegal instrument. The SEC cannot approve an illegal instrument to be traded on a national securities exchange.
 </blockquote></li>
 <li>
 <blockquote>
 If the SEC delays or rejects an Ethereum ETF, it will be interesting to see what excuse, if any, it uses, given that it has already notified the market that Ethereum is outside its jurisdiction.
 </blockquote></li>
</ul>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/a16z-executive-speaks-about-secs-attack-against-ethereum-eth-cannot-be-a-security/" rel="noopener noreferrer nofollow">a16z Executive Speaks About SEC’s Attack Against Ethereum: “ETH Cannot Be a Security”</a>

a16z Executive Speaks About SEC’s Attack Against Ethereum: “ETH Cannot Be a Security”

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