Ether staking could trigger securities laws — Gensler

Ethereum’s upgrade to proof-of-stake may have placed the cryptocurrency back in the crosshairs of the Securities and Exchange Commission ., SEC chairman Gary Gensler reportedly said that cryptocurrencies and intermediaries that allow holders to “stake” their crypto may define it as a security under the Howey test, according to The Wall Street Journal.

The comments came on the same day as Ethereum's transition to proof-of-stake , meaning the network will no longer rely on energy-intensive “proof-of-work” mining and instead, allows validators to verify transactions and create new blocks in a process that involves “staking." Gensler went on to say that intermediaries offering staking services to its customers “looks very similar — with some changes of labeling — to lending.”

The SEC has also pushed firms offering crypto lending products to register with them, including a $100 millionin February for its failure to register high-yield interest accounts that the SEC considers securities.

no one has ever doubted that eth was a security, if you ask for money in the initial state as etherium did it is obvious that you will be classified as a security

How long will they come up with regulations?

Sec just waited to have an even more centralized and manipulated eth. Great prospects for the future

iLoveJaneAdams I'm safe with $CULT $RVLT & $VEMP

The same as i ' stake' my usd in us bonds he means?.

ETHEREUM was a SECURITY COIN LIKE XRP ? Watch

This so funny since eth was a security before pos hard fork

Taking a shit would be a security transaction if Gensler could get it through.

🚀 Thnks a millon.

🚀 Thnks a millon.

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