Charles Hoskinson, the founder of Cardano (ADA), participated in a live broadcast on Twitter Spaces. During a talk hosted by Perianne Boring, founder of Chamber of Digital Commerce, and Teresa Goody Guillén, partner of BakerHostitler, the possibility of Ethereum as a security was discussed. Here are the details…
Cardano inventor Hoskinson comments on ETH and regulations
Hoskinson suggested that Ethereum can now be viewed as an unregistered security by the US Securities and Exchange Commission (SEC). As it is known, ETH has switched to the proof-of-stake consensus algorithm. Therefore, rumors spread that it could be a security. Hoskinson also agreed. “Now, it’s a proof-of-stake system, so maybe it’s a security now. Who knows? You know, one way or another, they’re not going to take an official position,” he said.
— Charles Hoskinson (@IOHK_Charles) October 25, 2022
Hoskinson was critical of the current editing-enforcement environment. Meanwhile, he said there is a need for “kind of guidance” from regulators on how cryptocurrencies should be classified. “This is frustrating for me because I want to know what the standards are,” Hoskinson added.
Questions about whether ETH is a security do not end
cryptocoin.com As we have reported, Ethereum’s securities status has been a controversial issue for years. In 2018, top SEC official William Hinman stated that the second-largest cryptocurrency is non-securities. However, the institution moved away from this stance during its legal battle with Ripple.
Also, CFTC Chairman Rostin Behnam recently stated that the second-largest cryptocurrency is a commodity. He reiterated his view that it keeps it in the same league as Bitcoin. However, Behnam also noted that Gensler had a different view on the matter. Gensler has so far declined to comment publicly on Ethereum’s regulatory status. However, he stated that he had the properties of a security a few years before he became SEC chairman.
