The SEC is waging a compaign to classify ethereum as a security – report

Just out from Fortune:

The Securities and Exchange Commission is waging an energetic legal campaign to classify Ethereum, the second-most popular cryptocurrency, as a security, according to U.S. companies that have received subpoenas related to an investigation. The news delivers a further blow to the crypto industry’s hopes the agency will approve applications by BlackRock and others for an Ethereum ETF following the SEC’s approval of a series of Bitcoin ETFs in January.

This is the second bearish story to hit ETH today and the selling has extended. Earlier, Coindesk reported that the Ethereum Foundation is under investigation.

The report says the SEC has demanded documents for any dealings with the Ethereum Foundation

The evidence is mounting that an ethereum ETF isn’t coming.

This article was written by Adam Button at www.forexlive.com.