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Ethereum's Legal Landscape
This chapter examines the classification of Ethereum as a security in light of SEC allegations and the Howey test, emphasizing the implications of a recent Coinbase ruling. It contrasts Ethereum's self-staking model with centralized authority and discusses how ongoing legal cases could impact the market. The chapter also explores nuances of cryptocurrency transactions and their potential designation as investment contracts, drawing parallels to tangible collectibles.
On March 20, Fortune reported that the SEC was investigating the Ethereum Foundation and was looking for legal ways to label ETH as a security.
Sam Enzer, partner at Cahill Gordon & Reindel, and Greg Strong, partner at DLx Law joined Laura to discuss everything about the investigation and its implications.
The guests speculate about the hidden motivations behind the SEC's investigation and discuss the likelihood of the approval of spot Ether ETFs. They also discuss the recent ruling in the SEC vs Coinbase case, where the judge dismissed claims that Coinbase's wallet was acting as an unregistered brokerage, but allowed the rest of the suit to proceed.
Lastly, they touch on the devastating impact on the crypto industry if the SEC were to win a case alleging ETH is a security and what they are looking out for in the next couple of weeks and months.
Ethereum Foundation investigation:
Ethereum’s security status
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