Ether in general and professional speaking is not a commodity, it is a security.
Ethereum is centralized to an extent. It was premined as an ICO. Its network is using PoS algorithm in which there are people that staked their coins to earn more coins. Do you see something like these with what are called commodities? No. But are securities like that? Yes.
Ethereum is a security and not a commodity.
Topic: Is ETH a commodity now? - page 3. (Read 509 times)
According to the recent SEC filing you all know, ETH is now a commodity - highlight: according to the SEC
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
(Source: SEC mentions ETF funds as Commodity-Based Trust Shares: https://www.sec.gov/files/tm/lk87adfs99.pdf )
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
(Source: SEC mentions ETF funds as Commodity-Based Trust Shares: https://www.sec.gov/files/tm/lk87adfs99.pdf )
It can be traded as commodity. Commodity market is a different market than crypto and has it's own way of operation and taxes.
I don't think it makes all of ETH as commodity in the US, it's just that ETH issued as ETF is traded as commodity. People can still have and trade ETH on the network or on exchange but ETF issuers can also buy and sell ETH ETF which might be backed by an equal number of ETH locked somewhere.
I don't think the congress or the president of US would undo the decision of SEC as SEC themselves are a very conservative in matter of economic decisions and they might have already got pre-approval in doing that.
According to the recent SEC filing you all know, ETH is now a commodity - highlight: according to the SEC
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
In theory yes they can definitely do something that can overthrow SEC’s decision but the question here is would they? It’s possible but quite unlikely unless they find something they could use to go against the decision. It would be then a long process and it would go through a lot of levels. It wouldn’t be an instantaneous decision so even if they decide that it wasn’t the right decision it would still take a long time to implement it.
According to the recent SEC filing you all know, ETH is now a commodity - highlight: according to the SEC
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
(Source: SEC mentions ETF funds as Commodity-Based Trust Shares: https://www.sec.gov/files/tm/lk87adfs99.pdf )
Is there still a chance that some other force (e.g. congress) will overthrow SEC's right to make this decision?
(Source: SEC mentions ETF funds as Commodity-Based Trust Shares: https://www.sec.gov/files/tm/lk87adfs99.pdf )
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