Charles Hoskinson: Perhaps Ethereum Is Now Security
Charles Hoskinson, the creator of Cardano, suggested during a recent discussion on Twitter Spaces, which was moderated by Perianne Boring, the founder of the Chamber of Digital Commerce, and Teresa Goody Guillén, a partner at BakerHostetler, that the U.S. Securities and Exchange Commission might view Ethereum as an unregistered security after the cryptocurrency switched to the proof-of-stake consensus algorithm.
“Now, it’s a proof-of-stake system…and then, perhaps, now it is a security. Who knows? You know, they are not going to take an official position one way or the other,” he said.
Charles Hoskinson criticized the existing atmosphere of regulation-by-enforcement
Charles Hoskinson has criticized the existing atmosphere of regulation-by-enforcement and emphasized the necessity for “some type of guidance” from lawmakers over how cryptocurrencies must be categorised.
“It’s frustrating to me because I just want to know what the standards are,” Charles Hoskinson added.
The validity of Ethereum as a security has long been a contentious topic. William Hinman, a senior SEC employee, claimed that the second-largest cryptocurrency was not a security in 2018.
Nevertheless, the organization backed away from his remarks while it fought Ripple in court. Recently, CFTC Chair Rostin Behnam reaffirmed his opinion that the second-largest cryptocurrency is a commodity, putting it on par with Bitcoin.
Behnam added that Gensler had a different perspective on the matter though. Gensler has not yet made any public remarks about Ethereum’s regulatory situation. A few years before taking over as the SEC’s chairman, he did, however, indicate that it possessed the characteristics of a security.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
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Annie
CoinCu News
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Ethereum
Charles Hoskinson: Perhaps Ethereum Is Now Security
Charles Hoskinson, the creator of Cardano, suggested during a recent discussion on Twitter Spaces, which was moderated by Perianne Boring, the founder of the Chamber of Digital Commerce, and Teresa Goody Guillén, a partner at BakerHostetler, that the U.S. Securities and Exchange Commission might view Ethereum as an unregistered security after the cryptocurrency switched to the proof-of-stake consensus algorithm.
“Now, it’s a proof-of-stake system…and then, perhaps, now it is a security. Who knows? You know, they are not going to take an official position one way or the other,” he said.
Charles Hoskinson criticized the existing atmosphere of regulation-by-enforcement
Charles Hoskinson has criticized the existing atmosphere of regulation-by-enforcement and emphasized the necessity for “some type of guidance” from lawmakers over how cryptocurrencies must be categorised.
“It’s frustrating to me because I just want to know what the standards are,” Charles Hoskinson added.
The validity of Ethereum as a security has long been a contentious topic. William Hinman, a senior SEC employee, claimed that the second-largest cryptocurrency was not a security in 2018.
Nevertheless, the organization backed away from his remarks while it fought Ripple in court. Recently, CFTC Chair Rostin Behnam reaffirmed his opinion that the second-largest cryptocurrency is a commodity, putting it on par with Bitcoin.
Behnam added that Gensler had a different perspective on the matter though. Gensler has not yet made any public remarks about Ethereum’s regulatory situation. A few years before taking over as the SEC’s chairman, he did, however, indicate that it possessed the characteristics of a security.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
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