Ethereum Foundation Faces Inquiry From a Government; Fortune Says SEC Investigating ETH
Published
After the publication of this article, Fortune reported the SEC seeks to classify ETH as a security.
By Matt BrienenThe Ethereum Foundation – the Swiss non-profit organization at the heart of the Ethereum ecosystem – is facing questions from an unnamed "state authority," according to the group's website's GitHub repository.
The confidential inquiry comes during a time of change for Ethereum's technology and at a possible inflection point for its native asset, ETH, which many American investment companies are seeking to offer as an exchange-traded fund. The Securities and Exchange Commission (SEC) has slow-walked their efforts despite recently approving a series of Bitcoin ETFs.
After the publication of this article, Fortune reported the SEC is seeking to classify ETH as a security, a move that would have major implications for Ethereum, an ETH ETF and crypto as a whole. The financial regulator has sent investigative subpoenas to U.S. companies in the past several weeks, according to Fortune's reporting.