Reassessing Ether's Legal Standing: Is it a Security or a Unique Asset


18 Sep 2023 10:35 AM

If you thought Ether is a security, think again. John Deaton - Pro XRP lawyer stated that Ethereum's key players, Vitalik Buterin and Joseph Lubin, knew...

  • Qadir Ak is the founder of Coinpedia and has been covering the blockchain and cryptocurrency space since 2010.
  • John Deaton, a Pro XRP lawyer, claims that Ethereum's key players, Vitalik Buterin and Joseph Lubin, knew from the beginning that their network would need a scaling revamp, leading to a Proof-of-Stake (PoS) system.
  • Former SEC official, William Hinman, gave Ethereum a free pass by stating that it is 'sufficiently decentralized,' despite concerns raised by Preston Byrne and others.
  • Preston Byrne suggests that Ether is a security, pointing out concerns such as horizontal commonality, GitHub's centralized nature, and an organized pattern in the 2014 Ether pre-sale.

The article presents different perspectives on whether Ether is a security, with John Deaton and Preston Byrne suggesting that it is, while William Hinman and proponents of Ether's non-security status argue otherwise. The sentiment is mixed, with a sense of uncertainty and potential regulatory implications.

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You May Ask

Who is Qadir Ak and what is his role in the cryptocurrency space?What is the claim made by John Deaton regarding Ethereum's key players?Why did William Hinman give Ethereum a free pass despite concerns raised by others?What are the concerns raised by Preston Byrne regarding Ether's classification as a security?What would be the potential implications if Ether is declared a security by the SEC?

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