Ethereum Is Not A Security, SEC Probe Unlikely To Succeed: A16z
Summary
The Swiss Ethereum Foundation received a "voluntary enquiry" from an undisclosed "state authority" demanding confidentiality. The US SEC is reportedly seeking extensive documentation from US companies on their interactions with the Ethereum Foundation, aiming to categorize Ether as a security. A16z's Global Head of Policy opposes the SEC's probe, arguing that the SEC explicitly acknowledged ETH as a non-security when approving ETH Futures ETFs. Coinbase's CLO also reinforces Ethereum's classification as a commodity rather than a security, citing the Howey Test. ETH traded at $3,507 at press time.
