Is Ether a security according to SEC Chair Gensler?
04/19/2023 •
Unclear — The majority of comments express frustration with SEC Chair Gensler's refusal to definitively classify Ether as a security or a commodity. There is also a portion of the comments that interpret this as a strategic move to maintain control or avoid legitimizing Ether.
Stats
| 74% | 67 | |
| 13% | 12 | |
| 6% | 5 | Mastodon |
| 6% | 5 | 4Chan |
| 1% | 1 | Hacker News |
| 52% | Negative |
| 40% | Neutral |
| 8% | Positive |
| 61% | 😡 Anger |
| 20% | 😱 Fear |
| 17% | 😃 Joy |
| 2% | 😯 Surprise |
| 0% | 😢 Sadness |
| 0% | 🥰 Love |
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Story
- Commenters express strong frustration and disappointment at SEC Chair Gensler's refusal to confirm whether Ether is a security during the congressional hearing, leading to confusion and anticipation within the crypto community.
- The lack of clarity on Ether's status has sparked critical responses from commenters, with some accusing Gensler of being evasive and others supporting his decision as potentially strategic or cautious.
- There are varying opinions about what would happen if Ethereum is declared a security or a commodity. Some believe a declaration as a security would lead to delisting and legal action, while others see it as inconsequential due to Ethereum's resilience. If declared a commodity, some believe this would provide regulatory clarity and promote adoption, while others disagree due to Ethereum's unique characteristics.
- Commenters have expressed a range of sentiments regarding why Gensler might be avoiding a clear declaration. Some see it as an intentional effort to maintain control over the crypto industry or to avoid legitimizing Ethereum, while others criticize him for his lack of decisiveness.
- Despite the uncertainty around Ether's classification, there is a sentiment that Gensler's stance aligns with the SEC's consideration of Bitcoin as a commodity, but this is seen as contradictory due to his refusal to clarify Ether's status.
- Commenters who criticize Gensler's indecisiveness suggest that the SEC should define securities and commodities clearly, but there is skepticism regarding the SEC's decision-making processes.
- There is an ongoing debate in the crypto community about the implications of Ethereum's classification for the crypto market as a whole, with opinions ranging from the catastrophic to the inconsequential.
- Some commenters speculate that Gensler's refusal to confirm Ether's status may be due to the potential legal and regulatory challenges Ether could face if its classification changes.
- There is some speculation among commenters that governments and big companies may exert control over Ethereum to some extent, making it less likely to be declared a security.
- Commenters express a range of feelings about Gensler's lack of clarity on whether Ether is a security during the congressional hearing, reflecting a lack of trust in the SEC's handling of cryptocurrency regulation.