According to a Bloomberg Intelligence analyst, the US Securities and Exchange Commission (SEC) has proven through its actions that ether is not a security.

James Seyffart noted that the American regulator has sued many cryptocurrency projects for selling tokens, which, according to the agency, are considered unregistered securities. However, the SEC did not initiate legal proceedings against the Ethereum Foundation and did not publicly declare that ETH belongs to the category of securities.

“The SEC’s silence on Ether suggests that at this time the regulator has implicitly recognized this cryptocurrency as a commodity. The agency also approved an ETF for ether futures. If Ether is recognized as a security, this will mean the delisting of all Ether futures that the SEC itself has already agreed to launch,” the analyst said.

James Seyffart emphasized: if the situation develops according to this scenario, the SEC will fight not only with the crypto industry, but also with the US Commodity Futures Trading Commission (CFTC), which regulates futures contracts. According to the analyst’s forecast, in 2024, SEC Chairman Gary Gensler will openly recognize Bitcoin as a commodity and remain silent about the status of ether, which will once again prove that ether is not a security.

Gensler has repeatedly stated that existing laws are sufficient to take enforcement action against cryptocurrency companies. According to the head of the regulatory agency, market participants are required to comply with the rules to which traditional financial institutions are subject.