Coin Stories with Natalie Brunell cover image

Coin Stories with Natalie Brunell

News Block: SEC Has Considered ETH a Security Since 2023, Biden to Veto Pro-Bitcoin Bill, Druckenmiller Gives Bidenomics an 'F', Bitcoin Mining Cuts Methane

May 9, 2024
10:56
Snipd AI
Podcast discusses SEC classifying Ethereum as a security, Biden vetoing pro-Bitcoin bill, Druckenmiller giving Bidenomics an 'F', Trump supporting crypto, Bitcoin mining reducing methane emissions
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Podcast summary created with Snipd AI

Quick takeaways

  • SEC has considered Ethereum a security since 2023, sparking legal disputes with Consensys.
  • Biden to veto legislation overturning SAB 121, signaling political opposition to Bitcoin custody by large banks.

Deep dives

Ethereum ETF Uncertainty: SEC's Changing Position

Following the approvals of spot Bitcoin ETFs, there has been speculation about Ethereum ETFs. Recent reports suggest that issuers anticipate the SEC denying ETH ETF applications. Veneck's ETH ETF faces a decision deadline on May 23rd, with experts estimating a 35% approval chance. Court filings reveal SEC's classification of ETH as a security, sparking a legal battle with Consensus disputing this classification.

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