Coinbase CFO Alesia Haas believes that Ethereum (ETH) is unlikely to be classified as a security by regulators
Haas cited the lack of comprehensive crypto regulation at the federal level in the US as the core problem leading to the classification issue
- Haas urged for a clear, equitable, and applied regulatory framework for crypto, stating it would protect consumers and help Coinbase introduce compliant products in the US
Coinbase CFO Alesia Haas recently shared her view that Ethereum (ETH) is unlikely to be classified as a security by regulators in the United States. This classification is critical as it could affect what crypto products are offered in the US.
Haas Believes ETH is Not a Security
During an interview with Fortune, Haas stated that she does not believe Ethereum would be labeled a security by regulators. She pointed to the fact that both the SEC and CFTC have indicated the same in the past.
The Coinbase CFO said the issue stems from a lack of regulatory clarity around cryptocurrencies at the federal level in the US. She called for a clear, equitable, and consistently applied regulatory framework, noting it would better protect consumers and Coinbase.
SEC Subpoenas Suggest Otherwise
However, Fortune reported in March that the SEC is attempting to define ETH as a security. Some US companies allegedly received subpoenas identifying ETH as a security based on its shift to proof-of-stake.
Sources say the SEC is behind a recent inquiry into the Ethereum Foundation launched by an unknown state authority. The companies and regulator have not confirmed the subpoenas or investigation.
Conclusion
The classification of ETH as a security or commodity will significantly impact the crypto products offered in the US. It is expected to affect whether Ethereum spot ETFs are treated like Bitcoin ETFs. Additionally, some US lawmakers have raised concerns about trading ETH-based products depending on its status.
While the SEC case against Coinbase refers to ETH in several areas, it does not outright allege ETH is a security. Haas maintains Ethereum is unlikely to be classified as such, but conflicting reports suggest regulators have not yet reached a consensus.
