Ethereum (ETH), the world's second-largest digital asset. It is facing a heated debate over whether it should be classified as a "securities" or a "commodity."
Recently, Brian Armstrong, founder and CEO of Coinbase, a leading cryptocurrency exchange, has called on regulators to immediately approve the Spot Ether ETF.
Armstrong thinks the Spot Ether ETF should be treated the same as the newly approved Spot Bitcoin ETF ⚖️
However, the legal status of ETH remains murky.
The Securities and Exchange Commission (SEC) has not yet clearly classified ETH.
Meanwhile, the Commodity Futures Trading Commission (CFTC) views ETH as a “commodity.”
This conflict could create challenges for companies applying for Spot Ether ETF approval.
Armstrong told Bloomberg: “I think an Ethereum ETF should be approved. And all deserve equal treatment under the law.”
He also expressed concern about politics within federal agencies. and the SEC and CFTC's influence battle over ETH classification.
SEC Chairman Gary Gensler remains silent. About the status of ETH
But Gensler has previously hinted that many digital assets besides Bitcoin could be classified as "securities."
What is the future of ETH?
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