Consensys: SEC treats ETH as a commodity rather than a security, but the regulatory approach still needs to be improved

As reported by Wushuo, Consensys stated that the SEC’s latest approval indicates that ETH is considered a commodity rather than a security, which is a change from its previous position. Consensys welcomed the SEC’s decision to approve an ETH spot ETF as a step in the right direction. However, Consensys also pointed out that the SEC’s last-minute approval is yet another example of its troublesome ad hoc approach to digital assets, and that no other industry, market, or asset has been subject to such deliberate regulatory abuse. This is unfair to market participants, runs counter to the rule of law, and constrains innovation. Consensys said it was pleased to see strong bipartisan efforts in Congress to provide clear and reasonable regulation.