{"id":8978,"date":"2022-09-20T06:03:58","date_gmt":"2022-09-20T06:03:58","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/09\/20\/secs-bizarre-new-claim-about-ethereum-may-set-dangerous-precedent\/"},"modified":"2022-09-20T06:03:59","modified_gmt":"2022-09-20T06:03:59","slug":"secs-bizarre-new-claim-about-ethereum-may-set-dangerous-precedent","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/09\/20\/secs-bizarre-new-claim-about-ethereum-may-set-dangerous-precedent\/","title":{"rendered":"SEC&#8217;s Bizarre New Claim About Ethereum May Set Dangerous Precedent"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>\n<iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/secs-bizarre-new-claim-about-ethereum-may-set-dangerous-precedent\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p><span style=\"font-weight: 400\">The warfare between Ethereum and SEC doesn&#8217;t stop to exist. The Securities and Exchange Commission is presently making an attempt to determine its <a href=\"https:\/\/coingape.com\/did-sec-chair-indirectly-reveal-its-stance-on-ethereum\/\" target=\"_blank\" rel=\"noopener\">authority over the crypto<\/a> business. The SEC claims that the majority cryptocurrencies are securities. Therefore, it asserts jurisdiction over crypto tokens and exchanges.\u00a0<\/span><\/p>\n<div class=\"quads-location quads-ad90952 \" id=\"quads-ad90952\" style=\"float:none;margin:0px 0 0px 0;text-align:center;padding:0px 0 0px 0;\">\n<a href=\"https:\/\/servedbyadbutler.com\/go2\/;ID=180936;size=647x80;setID=509734\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"647\" height=\"80\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=647x80;setID=509734;type=img;click=CLICK_MACRO_PLACEHOLDER\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=647x80;setID=509734;type=img;click=CLICK_MACRO_PLACEHOLDER\" width=\"647\" height=\"80\"\/><\/noscript><\/a>\n<\/div>\n<p><span style=\"font-weight: 400\">Recently, SEC chair Gary Gensler revealed that Ethereum is also thought of safety after the merge. Now, the SEC is taking warmth from the crypto neighborhood because it claims that the US has jurisdiction over all of Ethereum. It is implying that the SEC has authority over each Ethereum transaction.\u00a0<\/span><\/p>\n<p>Lark Davis, a significant crypto influencer, believes this declare units <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/TheCryptoLark\/status\/1571992949524942848\" target=\"_blank\">a dangerous precedent<\/a>.<\/p>\n<h2><b>The Battle Between SEC and Ethereum<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The SEC has lengthy tried to assert its jurisdiction over the second largest cryptocurrency. Earlier, SEC chair Gary Gensler revealed that he considers Bitcoin to be the one cryptocurrency that may be a commodity. The SEC doesn&#8217;t have regulatory authority over commodities. They fall underneath the jurisdiction of the Commodity Futures Trading Commission or CFTC.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Recently, Gensler modified his stance on Ethereum and known as it a commodity as effectively. However, after <a href=\"https:\/\/coingape.com\/glossary\/ethereum-merge\/\" target=\"_blank\" rel=\"noopener\">the merge<\/a>, the SEC believes that it has jurisdiction over Ethereum. The merge shifted Ethereum\u2019s consensus mechanism from Proof-of-work to Proof-of-stake. Gensler revealed that cryptocurrencies relying upon the Proof-of-stake mannequin can cross the Supreme Court\u2019s Howey take a look at.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Now, the SEC claims that each one of Ethereum and its transactions will likely be underneath US legal guidelines. The SEC filed a civil grievance in opposition to Ian Ballina for not registering a cryptocurrency as a safety earlier than the discharge of the ICO. In the grievance, the fee claims that since Ethereum\u2019s validator nodes are principally located within the United States, it has jurisdiction over all of Ethereum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">United States has presently over 45% of nodes within the United States.\u00a0<\/span><\/p>\n<h2><b>SEC Receives Backlash<\/b><\/h2>\n<p><span style=\"font-weight: 400\">SEC continues to attract backlash from the crypto neighborhood. The fee is already taking a variety of warmth from the neighborhood as a result of its <a href=\"https:\/\/coingape.com\/ripple-xrp-winning-or-losing-sec-case-heres-the-popular-opinion\/\" target=\"_blank\" rel=\"noopener\">lawsuit vs XRP<\/a> and its resolution on Bitcoin ETF.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Lark Davis, a significant crypto influencer, believes that the SEC\u2019s claims are weird. It additionally believes that it&#8217;s setting a harmful precedent. Bitcoin additionally has probably the most miners within the US.<\/span><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA121937\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nNidhish is a expertise fanatic, whose goal is to seek out elegant technical options to resolve a few of society&#8217;s largest points. He is a agency believer of decentralization and needs to work on the mainstream adoption of Blockchain. He can also be massive into nearly each in style sports activities and likes to converse on all kinds of matters.\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" src=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\"\/><\/noscript> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD121937\">\n<p> The offered content material might embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn&#8217;t maintain any accountability on your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/secs-bizarre-new-claim-about-ethereum-may-set-dangerous-precedent\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The warfare between Ethereum and SEC doesn&#8217;t stop to exist. The Securities and Exchange Commission is presently making an attempt to determine its authority over the crypto business. The SEC claims that the majority cryptocurrencies are securities. Therefore, it asserts jurisdiction over crypto tokens and exchanges.\u00a0 Recently, SEC chair Gary Gensler revealed that Ethereum [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[14],"tags":[4301,1680,1541,108,4302,2248,81],"class_list":["post-8978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-bizarre","tag-claim","tag-dangerous","tag-ethereum","tag-precedent","tag-secs","tag-set","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/8978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=8978"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/8978\/revisions"}],"predecessor-version":[{"id":8979,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/8978\/revisions\/8979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/6018"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=8978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=8978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=8978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}