Is Ethereum a security in US or not?

[Yugocean]

In a recent event, Pro-Bitcoin critic and the CEO of MicroStrategy, Michael Saylor, said that Ethereum is a security. this is what SEC chairman Gary Gensler has also hinted when he claimed that "only" Bitcoin is commodity.

People, especially Americans are objecting this because Securities comes under the jurisdiction of SEC, and SEC regulation prevents the public from freely entering highly profitable investments. One have to be licensed by SEC for becoming authorised brokerage of security.

Moreover SEC regulation are such that involving into buy/sell of securities for the initial startup/ pre-IPO stage, requires one to be a millionaire, thus this puts control over the features of Smart Contract, NFT, Defi, ERC Tokens.

Ethereum supporters are saying that Sailor has supported Gary's view, he wants bitcoin as the only commodity in crypto. This even become a debate of BTC vs ETH.

However Ethereum is borderless computer code, so authorities won't be able to fix it.​

 

[coinsrider]

The insights are useful and informative.

Introduced taxes on income from crypto assets, giving much-needed clarity on the taxation of cryptos. The regulatory guidance on tax furthers the mainstreaming of the excitement of this emerging asset class with over $6B worth of investments

 

[Yugocean]

@coinsrider I don't understand whatever you want to say, the tax regime is always specified separately. This thread is about describing Ethereum as a security in United States and people objecting over it, so if you're referring to a tax on security, which is controlled by the SEC in trade, then please state that explicitly.