New York Prosecutors Request SEC to Consider Ethereum (ETH) as a Security in 2023 KuCoin Lawsuit
Summary
- It was reported that New York prosecutors requested the SEC to consider Ethereum as a security in the KuCoin lawsuit.
- According to SEC internal documents, the then Director of the New York State Investor Protection Bureau requested support for the security status of ETH.
- The issue of whether Ethereum is a security could potentially influence U.S. cryptocurrency regulation.
According to cryptocurrency-focused media outlet CoinDesk on the 7th (local time), it has been revealed that New York prosecutors requested the U.S. Securities and Exchange Commission (SEC) to consider Ethereum (ETH) as a security in the 2023 lawsuit against KuCoin.
This information came to light as Coinbase disclosed SEC internal documents obtained through the Freedom of Information Act (FOIA).
According to the documents, Shamiso Maswoswe, then Director of the New York State Investor Protection Bureau, requested the SEC to "support the claim that ETH is a security" by submitting a court opinion.
However, the SEC did not express an official position at the time as opinions on whether ETH is a security were not finalized.
The media added, "The issue of whether ETH is a security could potentially influence the regulatory climate for cryptocurrencies in the United States."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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