In May 2018, the United States Securities and Exchange Commission (SEC) released a report that concluded that Ethereum (ETH) is not a security. The report was in response to a lAWSuit filed by investor Kyle Aska, who alleged that ETH was a security because it was sold through an initial coin offering (ICO).
The SEC’s report stated that Ethereum is a decentralized platform that runs on blockchain technology. The SEC also found that there is no central entity that controls or profits from the platform.
Because of these factors, the SEC concluded that Ethereum is not a security.
The SEC’s decision was welcomed by the Ethereum community. However, not everyone agrees with the SEC’s conclusion.
In July 2018, Gensler, the Chairman of the Commodity Futures Trading Commission (CFTC), said that he believes Ethereum is a security. Gensler’s comments caused some concern among Ethereum investors.
So, does Gensler think Ethereum is a security? It’s difficult to say for sure. Gensler has not provided any specific evidence to support his claim.
However, his opinion does carry some weight because he is a regulator with experience in securities law. It’s also worth noting that the CFTC has jurisdiction over securities lAWS related to commodities, so Gensler may be more familiar with these lAWS than other regulators.
At this point, it’s unclear what implications Gensler’s opinion will have for Ethereum. The SEC has already said that Ethereum is not a security, and it’s unlikely that the agency will change its position based on Gensler’s comments.
However, Gensler’s opinion could be used to support future regulation of Ethereum by the CFTC or other agencies. For now, investors will just have to wait and see how this situation develops.