Cryptocurrencies
SEC Chair Gensler Raises Concerns Over ‘Staking’ Model on Ethereum
- SEC chief declines to discuss any tokens specifically
- Ether blockchain now using ‘proof-of-stake’ for transactions
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Crypto investors who have been celebrating this week’s overhaul of Ethereum’s blockchain may have to deal with an unwelcome guest at their party: US Securities and Exchange Commission Chair Gary Gensler.
Gensler on Thursday signaled that a feature of the network’s software could lead to tokens being considered securities by the SEC. While Gensler was careful to say he wasn’t speaking about any digital coin specifically, his comments add to questions about the Wall Street regulator’s views on Ether, which is the second-biggest virtual currency.