Hello, guys welcome back to my blog I’m Lucky Ali and today I’m going to talk about the SEC Chairman View regarding Ethereum. consensys a software firm of Ethereum had submitted a complaint against the SEC in the federal court in Texas and on the 29th of April a big update came. In this big update, the sec’s view has come out regarding Ethereum. The report reveals that Gary Gensler the chairman of the SEC believed for the past year that Ethereum is an unregistered security trading out of compliance with current federal regulations. Let me tell you that this latest filing comes in response to the Wells Notice from the regulators, which details the plan to sue Consensys for failing to comply with federal securities laws.

Gurbir Grewal, Chief of SEC's Division of Enforcement was ordered to examine Ethereum as a security on the 28 March 2023. In this investigation, it is checked who bought crypto and who sold it And this is the responsibility of enforcement staff. In this matter Gary Gansler is confused and he is not able to clarify the statement that Ethereum is security or not. Even though the Ethereum Etf has been approved and there is a chance that more ETFs of ETHER will come sec is still confusing and that is not a good thing. Bitcoin is the biggest in the industry and Ethereum is totally different than Bitcoin because it provides multiple things so we cannot neglect the benefit of Ethereum blockchain.

You know this is very important to solve because ETF approval is pending and if you want to see more ETFs come for Ethereum then we have Ethereum should come out from this issue.

After the SEC approved 11 spot Bitcoin ETF applications in January month, ETFs for other crypto coins were expected to be approved soon and yes Ethereum is top in other cryptocurrencies and not only Ethereum but XRP too. Where it was expected that the Security Exchange Commission might soon grant approval to spot ETH ETF, the SEC might approve a spot Ethereum ETF in May and that is what Cryptocurrency market experts were expecting. However, due to the SEC considering Ether a security and ongoing investigations into crypto exchanges, spot Ether ETF approval is pending. Cryptocurrency investors are constantly accusing the SEC for this particular issue that SEC chief Gary Gensler is deliberately delaying ETF approval. At present, all eyes are on the court's decision. It is noteworthy that in a similar case, in the lawsuit between SEC and XRP, Ripple (XRP) got a partial victory, in which the court had said that Ripple is not a security.

What is your opinion regarding this information please let me know in the comments section and I am expecting that you share this post on different social media so do not make me sad and share this post I will meet you in my next blog till then take care and stay tuned.

Lucky Ali

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		Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥

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