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Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
Sep 20, 2022
The Securities and Exchange Commission (SEC) has been maintaining that almost all cryptocurrencies are securities. Moreover, SEC chair Gary Gensler disclosed that Ethereum could also be considered a security post its merger, in contrast to his earlier claims about Ethereum being a commodity. Changing their stance, SEC now believes that after the merger, it has jurisdiction over all of Ethereum and that all of its transactions will now be under US laws.
As a result, the SEC is facing heat from the crypto community. A major crypto influencer, Lark Davis, believes that the SEC’s claims regarding Ethereum are bizarre and it is setting a dangerous precedent.