Fox Business reporter Eleanor Terrett said in her post that new court records show that SEC Chairman Gensler believes Ethereum is a security.
According to the documents of the lawsuit that Ethereum development company Consensys recently filed with the SEC; The SEC and its chairman, Gary Gensler, believe ETH has been traded as an unregistered security for at least 1 year.
According to new court documents, on March 28, 2023, Gurbir Grewal, head of the SEC's Division of Enforcement, approved a formal investigation order into the securities status of Ethereum and authorized enforcement staff to investigate and subpoena individuals and entities involved in ETH trading.
Sources with direct knowledge of the matter told FOX Business that Consensys, founded by Joe Lubin, one of the Ethereum blockchain founders, was among a small number of Ethereum-related companies that received subpoenas from the SEC around the time the investigation was authorized.
According to Gary Gensler's statements in court records, the SEC chairman considers ETH to be a security since Ethereum's transition from PoW to PoS.
🚨BREAKING: New court filings show SEC, Chair Gensler believed ethereum was a security for at least a yearhttps://t.co/TF2jIqxDWs
— Eleanor Terrett (@EleanorTerrett) April 29, 2024
*This is not investment advice.
