The post SEC Claims To Have Jurisdiction Over Ethereum And All Its Transactions appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
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.