Nouriel Roubini slams Ethereum whales, aligns with GaryGensler on possible security classification; crypto regulation debate heats up cryptocurrency SEC CFTC
Ethereum whales, echoing the ambiguous stance of Securities and Exchange Commission Chair Gary Gensler on the possible classification of Ethereum as a security.
In a tweet, Roubini argued that Ethereum is a security despite the self-serving claims made by ETH billionaires, labeling their views as"totally laughable." As reported by U.Today, Gensler, navigating the uncharted waters of cryptocurrencies, suggested in a recent interview with New York Magazine that Ethereum could be classified as a security.
Gensler explained that cryptocurrencies other than Bitcoin are often created by a group of entrepreneurs who seek to profit based on the efforts of intermediaries. Classifying a cryptocurrency as a security would tether it to increased regulatory scrutiny and compliance requirements.
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