Ripple CTO David Schwartz has questioned the US Securities and Exchange Commission’s (SEC) stance on sales of Ethereum (ETH) on exchanges in a recent tweet.
Schawrtz proked the US SEC over their inconsistent stance on the security status of Ethereum.
It started when the SEC posted, that sec is the best source for SEC-related news, after the Cointelegraph spread the rumor SEC approved ishares Bitcoin ETF.
His comment was widely loaded by Twitter users as they are also asking the SEC for proper guidelines regarding cryptocurrency. Some users are even posting memes on the SEC’s stance on crypto.
The SEC’s stance on ETH sales is a matter of ongoing debate. The agency has not yet issued any formal guidance on the matter, and it is unclear whether it will do so in the future.
It is a fact that ETH is widely used as a utility token, and is not simply an investment vehicle. ETH is used to pay for gas fees on the Ethereum network, which is essential for running smart contracts and decentralized applications.
This makes it extremely important for the SEC to clarify the status of ETH. The agency also has not yet issued any formal guidance on the matter, and it is unclear whether it will do so in the future.