- Block chief agrees with SEC arguments
- He considers ETH a security
- This position was harshly criticized by other members of the crypto community.
Twitter creator and Block CEO Jack Dorsey unexpectedly agreed with the SEC. He believes that ether is a security. And that the arguments of the Securities and Exchange Commission are correct.
Dorsey is confident that there are only three coins currently truly resistant to government control. This is, of course, the Bitcoin blockchain, as well as the TOR and Nostr networks. The businessman is convinced that they are the future. But I agree that for most people such technologies are still inaccessible.
Bitcoin Ordinals developer Udi Wertheimer responded to the tweet. He named Dorsey the Clown.
But Gabor Gurbach, a strategy adviser for Tether and VanEck, agrees with Dorsey’s opinion. He believes that Ethereum’s recent transition to the Proof-of-Stake algorithm has made it a security. After all, over time, the asset will become more and more deflationary. In addition, ETH staking allows users to earn regular income without doing anything. This is treated as an investment in securities.
In a recent lawsuit against Binance, the SEC named ten tokens that should be considered crypto asset securities. This list includes ADA, FIL, SOL, MATIC, MANA, SAND, ALGO, COTI, AXS and ATOM.