SEC Chairman Jay Clayton
https://coincenter.org/link/sec-chairman-clayton-just-confirmed-commission-staff-analysis-that-ethereum-and-cryptos-like-it-are-not-securities
The distinction is crucial. A securities classification would have likely seen Ethereum booted from US cryptocurrency exchanges, and the SEC previously warned that exchanges that list illegal securities could themselves faces repercussions.
This increased regulatory clarity could further help spur institutional adoption, as questions surrounding cryptocurrencies’ legal status has been identified as one of several roadblocks to convincing more institutions to become active in the crypto space.