Joseph Lubin Affirms that Ether (ETH) is a Commodity, Not a Security
According to Joseph Lubin, one of Ethereum’s co-founders, there is no doubt that Ether (ETH) should be classified as a commodity rather than a security. This statement comes in response to the uncertainty surrounding the coin’s status from regulators in the United States, including the Securities and Exchange Commission (SEC).
- Lubin believes that ETH should be treated similarly to gold, oil, and natural gas, as these are commodities.
- Multiple watchdogs, including the SEC, have already stated that ETH should not be considered a security.
- Regulators’ opinions have been clear and consistent in classifying ETH as a commodity.
With the SEC and other regulatory bodies affirming that ETH is a commodity, it brings more clarity to its legal status. This distinction is crucial for the cryptocurrency industry, as it determines the applicable regulations and framework. As a commodity, ETH can continue to operate within existing commodity trading laws and regulations, providing a stable foundation for its growth and adoption.
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