Crypto NewsAltcoinIs Ethereum Among The SEC's Goals? JP Morgan Evaluated!

Is Ethereum Among The SEC's Goals? JP Morgan Evaluated!

JP Morgan analysts said that US lawmakers will not classify Ethereum as a security.

Follow Bitcoin Sistemi Google News Button

While the SEC has recently stepped up its crackdown on cryptocurrencies, last week it sued Binance and Coinbase exchanges for violating securities laws.

The SEC claimed that some tokens were securities in these cases. Besides Bitcoin, Ethereum was not among these tokens.

Commenting on the SEC's securities characterization, JP Morgan analysts said that US lawmakers will not classify Ethereum as a security and may put ETH in a new category alongside Bitcoin to protect investors.

According to The Block, JPMorgan analysts led by Nikolaos Panigirtzoglou made the following statements in the report:

"The US Congress may place Bitcoin and Ethereum in a new "other category" to avoid labeling them as securities.

BTC and ETH could be classified in the same commodity category or placed in a new "other category" with less burdensome regulations than securities."

While this assessment by analysts comes after the release of the Hinman documents related to Ethereum in the SEC-Ripple lawsuit, analysts said that the Hinman documents may explain why the SEC avoided taking no action against ETH while targeting almost all major competing tokens this year.

“We think that the publication of the Hinman documents will benefit Ethereum. Because the documents state that ETH is not a security.

While these documents benefit ETH, they may not directly benefit Ripple.

However, if Ripple wins this case, this acquisition will have positive implications for other tokens in terms of current and future SEC sanctions."

Former SEC official William Hinman said in a speech in 2018 that ETH is not a security, while SEC Chairman Gary Gensler does not make a clear statement on this subject.

That's because Gensler refused to say whether ETH is a security in his testimony before the House Financial Services Committee last April.

However, Gensler said in an interview in February that everything but Bitcoin is a security.

*Not investment advice



Buradaki Yorumlardan Bildirim Al
Bildir
guest

0 Comments
Latest
The oldest Top Rated
Inline Feedbacks
View all comments

Popular Posts of the Week