Consensys Senior Legal Advisor: The U.S. SEC may classify ETH according to investor protection laws

According to news on May 27, Bill Hughes, senior legal counsel and director of global regulatory affairs at Consensys, said in an interview that the U.S. Securities and Exchange Commission (SEC) is likely to classify ETH under investor protection laws. In October 2023, the SEC allowed Ethereum-based futures ETFs to trade on securities exchanges. This means that the asset on which the futures contract is based is not a security. A few things happened between then and now that appear to have caused the SEC to change its stance.