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SEC Allegedly Campaigning to Classify Ethereum as a Safety

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The SEC’s investigation into Ethereum consists of requiring firms to supply any paperwork and monetary information associated to their interactions with the Ethereum Basis. The non-profit ETH Basis is accountable for overseeing the administration and growth of the Ethereum blockchain.

Sources from firms which have lately obtained subpoena requests reveal that the SEC’s investigation into the Switzerland-based Ethereum Basis started shortly after the blockchain switched to a brand new governance mannequin generally known as “proof-of-stake” in September 2022. The subpoenas are narrowly outlined and concentrate on the Ethereum Basis.

“The SEC doesn’t touch upon the existence or absence of a possible investigation,” the SEC stated in response to Fortune’s request for remark.

*This isn’t funding recommendation.

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