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Ethereum dips amid SEC uncertainty 📉
The price of ETH hit a weekly low Tuesday, following revelations that the U.S. SEC has secretly considered it to be a security for over a year.
Stephen Graves
April 30, 2024
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📝 What you need to know
The price of Ethereum dropped to a weekly low Tuesday morning, following the publication of previously redacted portions of a lawsuit filed by Consensys against the SEC. The software firm’s complaint focused on an internal Formal Order issued by the regulator in March 2023, which explicitly referred to ETH as a security.
The SEC’s Chair, Gary Gensler, has repeatedly refused to be drawn on whether the regulator considers ETH a security, including during a House Financial Services Committee oversight hearing that took place after the internal order was issued.
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💬 Quote of the Day
As we go into this next quarter, it's pretty clear that Bitcoin is the only crypto asset that's going to be approved for sale in the form of a spot ETF in the United States.
– Michael Saylor, executive chairman, MicroStrategy
