Ethereum Denied Non-Security Status In Latest Court Battle Against SEC | Headlines | News | CoinMarketCap
08/02/2023 12:36
In a recent court ruling, Ethereum (ETH) was denied non-security status in a case against the U.S. Securities and Exchange Commission (SEC). …
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Published on August 02, 2023 05:30 GMT+00:00edited on August 02, 2023 05:34 GMT+00:00
In a recent court ruling, Ethereum (ETH) was denied non-security status in a case against the U.S. Securities and Exchange Commission (SEC).
The court granted the SEC’s motion to dismiss the complaint for declaratory relief on whether Ethereum and the Ethereum Network are securities. While the ruling was a procedural one and not on the merits, it confirmed that there is no protection for Ethereum as a non-security.
Ethereum And Other Cryptocurrencies Left In Legal Limbo
At this point in the US, only Bitcoin (BTC) and XRP are large-cap tokens that have legal clarity. The court’s decision highlights the regulatory uncertainty surrounding cryptocurrencies and the need for the SEC to issue definitive guidance rather than approaching the issue in piecemeal litigation.