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Unchained

With Ether ETFs in the Works, How Else Might the SEC Pivot on Crypto? - Ep. 653

May 31, 2024
Guest Jason Gottlieb from Morrison Cohen discusses how the upcoming US elections could impact the SEC's crypto agenda, political pressures influencing SEC decisions, ongoing court battles involving major crypto firms like Coinbase, implications of a possible new SEC chair, and Democrats' outreach to the crypto industry. They also touch on the SEC's credibility, bipartisan support for sensible regulation, and the influence of celebrities like Kaitlyn Jenner in the crypto space.
49:59

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • SEC's approval of Ethereum spot ETFs strengthens crypto defense, but ongoing legal battles remain unsettled.
  • Celebrity involvement in meme coins on Solana platform sparks controversy, scrutiny, and a surge in market activity.

Deep dives

ETH ETFs approved, but staked Ether could still face SEC scrutiny

The SEC's pending approval of Ethereum spot ETFs seemingly classifies Ether as a commodity by labeling the ETFs as commodity-based trust shares. The approval strengthens the defense of companies like Consensus and Coinbase, who are currently under SEC scrutiny. Sam Enzer of Cahill Gordon and Reindel noted, the SEC in approving these ETFs implicitly acknowledges Ether as a commodity, which is inconsistent with treating it as a security. However, the seeming shift still leaves unresolved issues in the SEC's ongoing legal battles with crypto companies, giving the agency room to scrutinize transactions involving Ether.

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