Recent court filings and lawsuit documents have revealed that the U.S. Securities and Exchange Commission (SEC), under the chairmanship of Gary Gensler, has been investigating whether Ethereum should be classified as a security. The investigation, which has been known to insiders for over a year, was formally approved by the SEC's Enforcement Director, Gurbir Grewal, on April 13, 2023. The focus of the investigation includes Ethereum 2.0 and the implications of its proof-of-stake tokens possibly meeting the criteria of the Howey test. This inquiry aligns with previous actions by the SEC, such as the issuance of a Wells notice to Coinbase shortly before filing a lawsuit against them. The Consensys lawsuit documents further emphasize the SEC's scrutiny.
Consensys vs. SEC litigation over whether ether is a security 'will take years': TD Cowen https://t.co/a7w6nUYUxF
Consensys alleges SEC was considering over a year ago that ether may be a security https://t.co/xLQa9uJQcr
SEC launched its investigation into ETH's status a year ago, unredacted Consensys complaint says https://t.co/EvTWLp8t0o
Last year, the SEC served Coinbase with a Wells notice just months before filing a lawsuit. Is the same about to happen to Consensys? https://t.co/yjDZkSc13q
In a newly filed, unredacted version of the Consensys lawsuit against the SEC, a formal investigation order signed by enforcement director Gurbir Grewal from April 2023 seems to indicate that the agency views Ether as a security. Notably, this was before the SEC's lawsuits… https://t.co/wez3cPCHwt
*CONSENSYS CLAIMS SEC ENFORCEMENT DIRECTOR APPROVED A FORMAL ORDER TO INVESTIGATE ETHEREUM IN MARCH 2023: COURT FILING - THE BLOCK PRO
Insiders have known for over a year that the SEC was formally investigating ethereum’s security status https://t.co/HugXrhTmr7
Insiders have known for over a year that the SEC was formally investigating. ethereum’s security status https://t.co/woe7hdEyjt
Insiders have know for over a year that the SEC was formally investigating. ethereum’s security status https://t.co/V4DwdFszBT
Forbes: Consensys lawsuit documents show that the SEC Committee approved the law enforcement investigation into Ethereum 2.0 on April 13, 2023. Gensler hinted that the POS tokens may trigger the Howey test. The SEC asked Consensys to provide more details about its role in the…
Huge scoop via @EleanorTerrett —-New court filings show SEC, Chair Gensler believed ethereum was a security for at least a year | Fox Business https://t.co/flFuch0xeS