What Happened on June. 13th | Is $ETH Safe from SEC?

TI Research

US SEC has deemed many PoS chains as securities, but seems intentionally skipped Ethereum.

Notable patterns for SEC to designate a token as security include: the token supply was "minted", "air-dropped", issued via an initial coin offering (ICO), vesting of tokens, allocation for the core team, and the promotion of profit generation through ownership of these tokens. And if a token is using Proof-of-Stake mechanism, it is more likely to be security.

But what about Ethereum. A portion of its initial supply is minted, it uses Proof-of-Stake, it has a roadmap, it is also commonly held as an investment and by staking it you will get staking rewards, a mechanism that may be considered security due to its seemingly likeness as an investment scheme. By the SEC's standards, $ETH is very much a security.

The reason the SEC has not described it as security may simply be a conflict of interest consideration. There is big money behind Ethereum and SEC would face much stronger and more direct opposition if it did so, leading it to be more cautious.

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TI Research

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