on Thursday may have turned the second-largest cryptocurrency into a security in the eyes of a top U.S. regulator.
Securities and Exchange Commission Chairman Gary Gensler said Thursday that cryptocurrencies and intermediaries that allow holders to “stake” their coins might pass a key test used by courts to determine whether an asset is a security. Known as the Howey test, it examines whether investors expect to earn a return from the work of third parties.
Source: Tech Daily Report (techdailyreport.net)
Bad news for Ethereum..
pkwsj Vlajournaliste Quote you used from Gary refers to custodial staking-as-a-service (eg Coinbase stakes your ETH for you), not staking as a validator, as you imply. The quote is about lending, which Gary also doesn't like, not why he claims ETH's a security. Big difference
This is just BS i will believe it when i see it . The SEC is never going to bring suite against ETH. Although id be happy to be wrong
'crypto-currencies' are not securities. These 'Crypto-digital Tokens' ARE NOT A CLAIM ON FUTURE CASHFLOW of any kind on any kind of asset. Basics of finance, 'Crytpo-digital-tokens' are not securities neither assets. Why Bitcoin became famous? FOR ILLEGAL TRANSACTIONS
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