$ETH $ETH The SEC has considered Ethereum a security for a year now!

🚨 Recent court documents reveal that the SEC, led by Chairman Gary Gensler, has considered Ethereum to be an unregistered security since at least last year.

⚡️This insight emerged from an unredacted lawsuit filed by Consensys against the SEC, which is now challenging the agency's attempt to classify Ethereum under federal securities law.

👀 In March 2023, the SEC's Enforcement Division began a formal investigation into Ethereum's status, leading to subpoenas for entities involved with Ethereum transactions.

➡️ This move marks a potential shift from previous SEC stances, contradicting a 2018 assertion that Ethereum was not a security.

👆 Stay tuned as this legal battle could significantly impact the cryptocurrency industry and Ethereum's regulatory status.