Cryptocurrency

Ethereum 2.0

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-intensifies-scrutiny-on-cryptocurrency-markets/" data-wpel-link="internal">SEC Intensifies Scrutiny on Cryptocurrency Markets</a> 
<a href="https://en.coin-turk.com/exploring-recent-bitcoin-price-trends-and-analyst-predictions/" data-wpel-link="internal">Cryptocurrency</a> markets have been increasingly under the scrutiny of the <a href="https://en.coin-turk.com/recent-developments-in-cryptocurrency-markets/" data-wpel-link="internal">SEC</a> for over three and a half years. Perhaps the institution should change its name? The US securities regulator has made crypto a significant part of its business, from announcements to time spent in courtrooms. It might even be possible for it to transform into a standalone crypto regulator. However, in that case, it would need to formulate rules related to crypto, which Gensler is reluctant to consider. 
<h2 style="text-align: justify" id="sec-and-ethereum-eth">SEC and Ethereum (ETH)</h2> 
We are aware of the lawsuit filed by Consensys against the United States Securities and Exchange Commission. The event that marked last week was related to the direct targeting of the largest company in the <a href="https://coin-turk.com/ethereumun-gelecegi-ve-arz-sorunu-eth-fiyatini-nasil-etkileyecek" data-wpel-link="internal">Ethereum</a> ecosystem by the SEC. According to Fox Business reporter Eleanor Terret, SEC and its leader Gensler have considered Ether to be a security for at least one year. 
Referring to court documents filed by Consensys on April 29, Terret touches on important details. According to the documents, the <a href="https://en.coin-turk.com/ethereums-revival-analyst-donalt-reassesses-its-potential/" data-wpel-link="internal">Ethereum</a> investment contract is considered a security, and for at least one year, MetaMask has been providing unregistered services for this <a href="https://coin-turk.com/coinbasein-yol-haritasina-eklenen-bu-altcoin-harekete-gecti" data-wpel-link="internal">altcoin</a>. So while the SEC remained silent to lawmakers’ questions, it actually had an answer in mind. 
<h2 style="text-align: justify" id="ethereum-case">Ethereum Case</h2> 
According to the documents, on March 28, 2023, SEC’s Enforcement Division Director Gurbir Grewal approved the investigative order regarding Ether’s status as a security. Recently, Gurbir apologized for the lawyers who disgraced his agency in two major crypto cases and said they would focus more on employee training. 
Ethereum 2.0 appears to be an extremely comprehensive investigation. The SEC asked companies linked to the Ethereum Foundation to document their connections, the extensive deals they have made, and explain them to the agency. Thus, the SEC could label the Foundation as the central body of Ethereum and classify the altcoin as a security. CFTC and many other agencies do not consider Ether a security. However, the SEC is trying to turn the tide in its favor with the Ethereum 2.0 investigation. The recent investigation opened against a major <a href="https://coin-turk.com/populer-yatirimci-acikladi-bu-defi-tokeni-iki-kat-artis-yasamaya-hazirlaniyor" data-wpel-link="internal">DeFi</a> giant is likely related to this process. 
Gensler SEC‘s view of Ether as a security would contradict the opinion of former Chairman Jay Clayton. So, there is disagreement not only between agencies but also between chairmen. And yet, Gensler believes that 100-year-old laws are successful in regulating crypto. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-345912 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ETHUSDT_2024-04-29_19-52-24.png" alt="" width="1325" height="610"> 
Bloomberg ETF analyst Eric Balchunas thinks that Gensler’s refusal last year to clarify whether Ether is a security could lay the necessary groundwork for an ETF rejection due to Gensler’s current change in stance. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-intensifies-scrutiny-on-cryptocurrency-markets/" data-wpel-link="internal">SEC Intensifies Scrutiny on Cryptocurrency Markets</a></h5>

SEC Intensifies Scrutiny on Cryptocurrency Markets

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