Is Ethereum a Security? Crypto Experts Clash After SEC ETF Approval

• The SEC approved nine spot ETH ETF applications last Tuesday.
• Following the approvals, the SEC confirmed ETH is not a security.
• Khaled Elawadi disagrees with the SEC’s ETH classification.

The U.S. SEC gave the green light to nine spot ETH ETF applications last Tuesday, leading most crypto users to believe that the regulator classifies ETH as a non-security token. The event sparked a debate between two prominent crypto personalities, Khaled Elawadi, a renowned crypto analyst, and David Schwartz, Ripple’s CTO.

Following the SEC’s spot ETH ETF approval, as shared by Coinbase founder Brian Armstrong, Elawadi argued the regulator was wrong, stating that Ethereum became 100% security after the Merge. According to him, Ethereum is a staking program where investors lock up funds for a predetermined period, artificially creating profits through a high programmed burn rate, decreasing supply while creating a number-go-up ponzi scheme.

Another huge step forward for regulatory clarity: ETH is not a security! We’ve been saying it for years and today the SEC finally made it official.

Coinbase is proud to be the trusted partner and custodian powering 8 of the 9 …

The post Is Ethereum a Security? Crypto Experts Clash After SEC ETF Approval appeared first on Coin Edition.