SEC Chair Gary Gensler recently made comments regarding the crypto industry’s compliance with federal laws following multiple Wells notices. During an interview on CNBC Squawk Box, Gensler criticized crypto businesses for failing to meet disclosure requirements typical of America’s financial markets.

Gensler emphasized that many tokens could be classified as securities according to U.S. law, as interpreted by the Supreme Court. However, he did not definitively address whether Ether (ETH) is considered a security or if an Ethereum ETF is on the horizon.

While the SEC’s crackdown on crypto businesses continues, entities like Coinbase and Consensys have pushed back against Gensler’s approach, claiming a lack of clear regulatory guidelines for the market. In contrast, the Commodity Futures Trading Commission (CFTC) has classified Ether as a commodity, positioning itself as a key player in U.S. crypto regulation.

Congressional members have expressed skepticism about the SEC’s handling of the crypto industry, particularly in light of investigations into Ethereum 2.0 and Gensler’s past statements indicating a view of Ether as a security.

The ongoing debate over the classification of ETH and the regulatory landscape for cryptocurrencies in the U.S. raises questions about the future of digital assets in the country.

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