Even after years of speculation Gary Gensler - the chair of the SEC (still) - has yet to provide an actual answer on whether ETH is a security or a commodity. Needless to say that this "uncertainty" created tons of debates within the crypto community and even within the boomers financial sector
Genser used to teach courses on blockchain tech and crypto at MIT by the way - Yet he always avoided delivering a clear classification for Ethereum despite it being literally the second biggest cryptocurrency by market cap
I guess what Im tryna say is Genslers approach left Ethereums regulatory status in a gray area- creating challenges for developers and investors and even companies looking for clarity. So what if Gensler is one of the main reasons why ETH didnt pump like it shouldve had?
Its a good thing he announced his intention to resign and its gonna take effect early next year but still ETH needs an answer - will it ever get that answer tho? After Gensler leaves - the regulatory status of Ethereum may stay as uncertain as ever
Whats intriguing me here is will Paul Atkins address the elephant in the room or will Ethereums status stay unresolved for years to come?
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