Is Ethereum a security?
This is the focus of recent debates provoked by the SEC. It can be simply understood that the SEC wants to gain jurisdiction over Ethereum.
If it is defined as a security, it may bring about confusion about the legality of the issuance of a large number of crypto tokens. Of course, the reason why it is proposed at this time point is that the application submitted by the potential issuer of the Ethereum spot ETF is aggressive, which has forced the US SEC to speed up the implementation of this matter and launch a series of investigations against Ethereum.
At present, many analyses believe that the Ethereum spot ETF will not be approved in May and may be further postponed.
In addition, the reasons for the US SEC to identify Ethereum as a security are not sufficient. If it is for financial security or investor protection, then the Ethereum futures ETF that has been approved long ago will make these reasons self-defeating.
