| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107246.4200000000 |
| ETH | $2431.0640000000 |
| BNB | $648.9897800000 |
| XRP | $2.1838940000 |
| ADA | $0.5639565000 |
| SOL | $149.6401000000 |
| DOGE | $N/A |
| DOT | $3.3897000000 |
| LTC | $86.3075000000 |
| LINK | $13.3016500000 |
Category: CRYPTO NEWS
The post Ethereum Security Status: Shocking Revelation from NY AG’s Push to SEC appeared on BitcoinEthereumNews.com. A significant development has surfaced from the ongoing debate surrounding the regulatory classification of cryptocurrencies, particularly Ethereum (ETH). Newly revealed documents shed light on a direct push from the New York Attorney General’s (NY AG) office to the U.S. Securities and Exchange Commission (SEC) regarding the Ethereum security status. This revelation, obtained through a Freedom of Information Act (FOIA) request by Coinbase, highlights the complex and often conflicting views among regulators on how to categorize and oversee digital assets. The Core Revelation: NY AG Pushed for Ethereum Security Status At the heart of this story is the disclosure that, during New York’s 2023 case against the cryptocurrency exchange KuCoin, the state’s top law enforcement office explicitly urged the SEC to formally declare Ethereum (ETH) a security. This is a crucial point because the SEC has historically avoided making a definitive public statement on whether ETH, in its current form, constitutes a security under U.S. law. While past comments from SEC officials, notably former Director William Hinman, suggested ETH was sufficiently decentralized not to be a security, the agency has never issued a formal, binding determination. The NY AG’s request, buried within documents recently made public by Coinbase, underscores the pressure state regulators can exert on federal bodies and reveals a potentially different perspective on ETH’s classification at the state level compared to the federal one. This internal communication brings into sharp focus the lack of regulatory clarity that has long plagued the crypto industry. Unpacking the KuCoin Case and the NY AG’s Stance The context for the NY AG’s push was the lawsuit filed against KuCoin in March 2023. The NY AG alleged that KuCoin was operating as an unregistered securities and commodities broker or dealer in New York, violating the state’s Martin Act. The case listed ETH, along with…
2025-05-08T02:41:15+00:00