Ethereum Foundation faces inquiry amid major tech overhaul and ETF hopes

The Ethereum Foundation is facing an inquiry from a ghost source when there are transformations on the anvil for Ethereum’s Technology. Added to that is its measuring point regarding its conventional asset, ETH, which multiple American investment businesses want to provide in the form of an exchange-traded fund. The Securities and Exchange Commission has dragged its feet despite consenting to a series of Bitcoin ETFs.

Following the article, the SEC wants to bring ETH under the securities segment, adversely impacting Ethereum. The SEC has carried out similar exercises to those of other business houses in the US.

The inquiry request is from an unknown entity, while the Ethereum Foundation refrained from responding. For the Ethereum Foundation (Stiftung Ethereum), this is a first; therefore, the contact not coming clean is puzzling.

The Foundation has a warrant canary on its website, signifying that it has never been approached for any governmental inquiry. However, Stiftung Ethereum has divulged that it was prepared to face all queries from government bodies beyond the scope of normal business functions.

If any government body coming under the jurisdiction fold does inquire, the Ethereum Foundation will not hesitate to bring down the warrant canary from its website. This will be a transparent bit of action from the company’s side.

Speculations are rife that the unknown entity could be a Swiss regulator working with the SEC. As per an attorney, the SEC is considering various applications for an Ether ETF, but there is very little chance of receiving consent from the Commission.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

Related Articles

Back to top button