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SEC Claims To Have Jurisdiction Over Ethereum And All Its Transactions

Written by: Qadir AK

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Qadir AK

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.

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Sep 20, 2022

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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.

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