SEC Unresponsive to Ethereum Security Classification Request from NYAG

By: coincu news|2025/05/08 00:15:01

In 2023, the New York Attorney General’s Office requested the SEC to officially designate Ethereum as a security. Coinbase’s newly disclosed SEC internal documents reveal this request amidst KuCoin legal actions. The SEC’s stance on ETH classification remains ambiguous, impacting investor protection discussions and indicating regulatory discrepancies. SEC’s Stance on Ethereum’s Regulatory Classification The New York Attorney General asked the SEC to classify Ethereum as a security in a court brief during the KuCoin prosecution. Shamiso Maswoswe’s email explained that this would enhance investor protection, yet the SEC did not respond, maintaining an unclear stance. The SEC’s historical perspective tended to identify Ethereum as a commodity. However, the PoS mechanism transition has led to mixed signals, influencing regulatory clarity. According to Coinbase, the SEC emphasized transparency but failed to take a clear position in this instance. Reactions within the financial industry highlight a broad concern about regulatory consistency. Paul Grewal from Coinbase accused the SEC of inconsistent regulatory practices, emphasizing a need for clear guidelines. Wall Street is closely watching for future SEC decisions. As Grewal noted, “We squeezed more details from @SECGov in our FOIA suit about the Gensler-era investigation of ETH2.0. They’ve identified the following documents in their ‘Vaugh index’ of withheld materials that we intend to pursue.” Wall Street Monitors Ethereum’s Regulatory Future Amid PoS Changes Did you know? In early 2022, the SEC had formed an initial view of Ethereum as a commodity, largely influenced by its early market activities. However, the PoS transition has blurred these lines, exemplifying regulatory complexities surrounding Ethereum. Data from CoinMarketCap shows Ethereum (ETH) is trading at $1,818.28 with a market cap of $219.53 billion. ETH price grew by 2.6% in 24 hours, yet dropped 32.87% over 90 days. The platform holds a market dominance of 7.33% as of May 7, 2025. Coincu analysts suggest ongoing US regulatory discrepancies may influence Ethereum market trends. While ETH’s recent price shifts reflect both positive and volatile market conditions, regulatory outcomes could define future compliance and technology adaptations.

A Polymarket user supported nearly half of Trade.xyz's "active addresses" with 34,000 wallets, yet contributed less than 1% of the trading volume. The real support for the market comes from market-making institutions like Jump, Selini, and Wintermute, as well as a group of directional traders crossi...

Binance quietly placed a bet on a leading large model company

In the past year, YZi Labs has significantly accelerated its investments in the AI field, from educational agents to physical robots, and then to large models, with crypto capital and AI technology rapidly integrating.

Best Crypto Discord Server 2026: Why Jacob’s Crypto Clan Is Gaining Massive Attention

Jacob’s Crypto Clan has grown into one of the most active crypto Discord communities, with over 45K members and continuing to expand. This rapid growth reflects strong demand for structured trading insights and real-time collaboration.

Tom Lee Buying ETH: Why Wall Street’s Loudest Ethereum Bull Keeps Doubling Down

Tom Lee keeps buying ETH through every dip, every drawdown, and every moment of market doubt. Inside the strategy that's turning Ethereum into a treasury asset — and what it signals for the rest of the market.

Stripe Sessions 2026: AI Agent, Global Payments, and Invisible Crypto Infrastructure

Stablecoins have finally begun to enter the real business world, but this time, the main character may not be exchanges, wallets, or public chains, but Stripe. It encapsulates KYC, wallets, gas, compliance, and settlement, allowing businesses to access on-chain assets just like using regular payment...

Where will South Korea's cryptocurrency taxation head?

There is little time left before South Korea implements cryptocurrency taxation, but the current tax laws only cover simple spot and currency-to-currency transactions. Driven by the international tax information exchange standard (CARF), South Korea is comprehensively building an intelligence analys...

Legendary investor Naval: Apple is dead, SaaS will follow suit, and entrepreneurs have 18 months to reshape their moats

"You can continue to hold Apple stock. Just don't expect that what you hold is stock in a growth company."

Morning Report | Visa includes Polygon in its global stablecoin settlement program; MoonPay invests $100 million to acquire security company Sodot; Digital wallet platform Belo completes $14 million Series A financing

Overview of Important Market Events on April 29

Full text of the Federal Reserve's decision: Holding steady for the third consecutive time but increasing divisions

The Federal Reserve has kept interest rates unchanged for the third consecutive time, but there were internal voting disagreements, with one official advocating for a rate cut while three others opposed signaling easing. The situation in the Middle East and fluctuations in energy prices further ampl...

Dan Bin takes action, building a position in Circle

If Web3 only stays at the level of price and narrative, traditional capital will find it difficult to truly enter; but once a group of companies that can be clearly explained and included in balance sheets begins to emerge, the way the industry participates will change.

The Impossible Triangle of DeFi Lending

Borrowers want fixed interest rates, while lenders seek immediate liquidity; this is the dilemma of on-chain lending, where both cannot be achieved simultaneously.