SEC Chairman: PoS Tokens Are Security And Need To Be Registered
On Wednesday, SEC Chairman Gary Gensler told reporters that PoS tokens that use the staking protocol could be considered securities. Gensler said the profits received by token holders from staking indicate that the token is a security that must be registered under US law. Previously, many representatives of the US legal authorities believed that ETH was security.
This is not the first time the SEC chairman has expressed his opinion on the need to control ETH or most cryptocurrencies on the market except BTC. Gensler has previously said that US securities laws may govern proof-of-stake protocols. In addition, New York Attorney General Letitia James said in a lawsuit against crypto company KuCoin that Ether is unregistered security and that its founders, including Vitalik Buterin, have infringed securities laws of the United States. As the 2nd largest cryptocurrency in the market, Ethereum has always generated mixed opinions regarding whether it is an unregistered security, especially the idea of the SEC chairman.
Source
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