๐ข SEC Chair: Ethereum is Not a Security, Praises Its Role in Crypto Ecosystem
โก SEC Chairman Paul Atkins stated on CNBC that #Ethereum is not considered a security, reinforcing confidence in its regulatory status. While the agency hasnโt issued a formal ruling, Atkins emphasized ETH's importance in powering broader digital asset innovation:
๐ฃ๏ธ โItโs encouraging to see the market embracing $ETH โ it signals a strong future for development.โ
๐ธ Corporate treasuries shifting to ETH:
Firms like Bit Digital and SharpLink Gaming are replacing $BTC with ETH in their reserves. SharpLink now holds 280,706 ETH (worth $867M), making it the largest known corporate holder โ even surpassing the Ethereum Foundation. Nearly all their #ETH is staked, earning yield.
๐ธ Stablecoins & market infrastructure:
Atkins highlighted federal focus on stablecoins as a positive step, enabling on-chain settlement and lowering risk and costs in traditional finance.
๐ธ Crypto in retirement plans:
He also advocated for digital asset exposure in 401(k)s, calling for SECโDoL cooperation on rules for valuation, fees, and liquidity โ to help fiduciaries safely offer crypto to long-term investors.