Unchained
‘Is ETH a Security?’ Why Gary Gensler Couldn’t Give Congress a Straight Answer - Ep. 483
Apr 21, 2023
Join Jason Gottlieb, a partner at Morrison Cohen and chair of the Digital Assets Department, as he dives into the heated debate on whether Ethereum should be deemed a security. He analyzes the potential fallout if the SEC makes such a declaration and questions the agency's impact on investors. Gottlieb also discusses ongoing litigations against exchanges like Bittrex and Beaxy, and the SEC's efforts to broaden the definition of exchanges, raising concerns about the future of DeFi in the U.S. Don't miss this insightful legal perspective on crypto regulation!
40:11
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Quick takeaways
- ETH's utility beyond investments makes it unlikely to be classified as a security by the SEC.
- SEC's stringent enforcement actions against exchanges could hinder digital asset market growth and innovation.
Deep dives
Challenges of SEC Chair Gensler's Ambiguity on ETH Security Status
SEC Chair Gary Gensler's ambiguity on ETH's security status creates uncertainty in the market. Despite implications that all cryptos other than Bitcoin are securities, Jason Gottlieb asserts that ETH is not a security due to its diverse utility beyond investments. Gensler's hesitancy stems from potential market repercussions and the tricky statutes of limitations surrounding ETH's issuance timeline.
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