SEC and Gensler believed Ether was security for at least a year
In April 2023, Gensler refused to answer repeated questions on whether the SEC believed Ether was a security.
Consensys’ lawsuit against the United States Securities and Exchange Commission has uncovered more information about the SEC’s stance on Ether (ETH).
The SEC and its chair, Gary Gensler, believed Ether was a security for at least some time, according to a report by Fox Business producer Eleanor Terret.
Citing court documents filed by the Ethereum software firm Consensys on April 29, Terret wrote that the SEC and Gensler “appear to have believed for at least a year” that Ether was an “unregistered security trading out of compliance with current federal regulations.”
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