{"id":504966,"date":"2022-10-05T17:00:47","date_gmt":"2022-10-05T17:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=504966"},"modified":"2022-10-05T09:42:36","modified_gmt":"2022-10-05T09:42:36","slug":"regulatory-scrutiny-threatens-ethereum-rise-will-it-succumb-under-pressure","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/regulatory-scrutiny-threatens-ethereum-rise-will-it-succumb-under-pressure\/","title":{"rendered":"Regulatory Scrutiny Threatens Ethereum\u2019s Rise, Will It Succumb Under Pressure?"},"content":{"rendered":"

Ethereum has been seeing increased regulatory scrutiny in recent months. This comes following the network\u2019s move to a proof of stake mechanism and the introduction of staking to the others. As sanctions have been levied against protocols such as Tornado Cash, it is becoming increasingly possible that regulatory bodies may turn their focus to Ethereum. Now, it seems the parameters for determining whose purview ETH falls under are being hashed out.<\/p>\n

Ethereum Might Be A Security<\/h2>\n

Previously, the Securities and Exchanges Commission boss Gary Gensler had said that the top two cryptocurrencies, Bitcoin and Ethereum, did not qualify as securities. But this was when both of these networks were still firmly operating under a proof of work mechanism.<\/p>\n

Related Reading: Why The Shiba Inu Price Could See Some Major Upside This Week<\/a><\/strong><\/em><\/div>\n

With Ethereum\u2019s move to proof of stake, the SEC is beginning to backtrack on the previous comments that Ethereum did not qualify as a security. It reasons that since there is now the availability of staking on the network, investors are currently \u201canticipating profits based on the efforts of others.\u201d This gives it pause to say that the digital asset might now qualify as a security. It also follows the SEC boss\u2019 view that most cryptocurrencies are currently operating as securities.<\/p>\n

Meanwhile, the impact of Ethereum being classified as a security by the regulatory body has a lot of implications. The most prominent of these is that there are more ETH nodes running in the United States than in any other country, which would mean that a large majority of transactions would fall under the SEC\u2019s purview.<\/p>\n

\"Ethereum<\/p>\n

Ethereum struggles to hold above $1,300 | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
However, since these assets are yet to be classified as securities, there have been other speculations of what they could be classified as. The CFTC has previously been called to regulate the crypto industry, and Chairman Rostin Behnam has said that digital tokens are commodities and that the CFTC should be able to regulate them.<\/p>\n
Will ETH Survive The Scrutiny?<\/h2>\n
Ethereum being regulated by either of these watchdogs can go a number of ways. Presently, it is expected that regulators will soon come out with a final classification for the digital asset and then put measures in place to regulate it as such. However, the price is likely to suffer for this.<\/p>\n
Related Reading: Ethereum Marks Three Consecutive Red Weekly Closes, Will Uptober Change Its Trajectory?<\/a><\/strong><\/em><\/div>\n
The sanctions against the crypto mixer Tornado Cash already have ETH investors at the edge of their seats. Adding more regulation for ETH could tank the price of the cryptocurrency. ETH is already struggling to hold above $1,000, and any regulatory action will likely send its price to sub-$1,000.<\/p>\n
Such a move against Ethereum would also greatly impact the rest of the decentralized finance (DeFi) and NFT market, triggering rapid declines in values across the space. In the end, the winner would be assets like Bitcoin, which are truly decentralized and would serve as a safe haven for crypto investors.\u00a0<\/span><\/p>\n
Featured image from BeInCrypto, chart from TradingView.com<\/pre>\n
Follow <\/i><\/b>Best Owie on Twitter<\/i><\/b><\/a> for market insights, updates, and the occasional funny tweet\u2026<\/i><\/b><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum has been seeing increased regulatory scrutiny in recent months. This comes following the network\u2019s move to a proof of stake mechanism and the introduction of staking to the others. As sanctions have been levied against protocols such as Tornado Cash, it is becoming increasingly possible that regulatory bodies may turn their focus to Ethereum. Now, it seems the parameters for determining whose purview ETH falls under are being hashed out. Ethereum Might Be A Security Previously, the Securities and Exchanges Commission boss Gary Gensler had said that the top two cryptocurrencies, Bitcoin and Ethereum, did not qualify as securities. But this was when both of these networks were still firmly operating under a proof of work mechanism. Related Reading: Why The Shiba Inu Price Could See Some Major Upside This Week With Ethereum\u2019s move to proof of stake, the SEC is beginning to backtrack on the previous comments that Ethereum did not qualify as a security. It reasons that since there is now the availability of staking on the network, investors are currently \u201canticipating profits based on the efforts of others.\u201d This gives it pause to say that the digital asset might now qualify as a security. It also follows the SEC boss\u2019 view that most cryptocurrencies are currently operating as securities. Meanwhile, the impact of Ethereum being classified as a security by the regulatory body has a lot of implications. The most prominent of these is that there are more ETH nodes running in the United States than in any other country, which would mean that a large majority of transactions would fall under the SEC\u2019s purview. Ethereum struggles to hold above $1,300 | Source: ETHUSD on TradingView.com However, since these assets are yet to be classified as securities, there have been other speculations of what they could be classified as. The CFTC has previously been called to regulate the crypto industry, and Chairman Rostin Behnam has said that digital tokens are commodities and that the CFTC should be able to regulate them. Will ETH Survive The Scrutiny? Ethereum being regulated by either of these watchdogs can go a number of ways. Presently, it is expected that regulators will soon come out with a final classification for the digital asset and then put measures in place to regulate it as such. However, the price is likely to suffer for this. Related Reading: Ethereum Marks Three Consecutive Red Weekly Closes, Will Uptober Change Its Trajectory? The sanctions against the crypto mixer Tornado Cash already have ETH investors at the edge of their seats. Adding more regulation for ETH could tank the price of the cryptocurrency. ETH is already struggling to hold above $1,000, and any regulatory action will likely send its price to sub-$1,000. Such a move against Ethereum would also greatly impact the rest of the decentralized finance (DeFi) and NFT market, triggering rapid declines in values across the space. In the end, the winner would be assets like Bitcoin, which are truly decentralized and would serve as a safe haven for crypto investors.\u00a0 Featured image from BeInCrypto, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026<\/p>\n","protected":false},"author":541,"featured_media":504969,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1265,8323,16163,1946,6931,87103,8686,78803,3631,3799],"class_list":["post-504966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-cftc","tag-eth","tag-eth-price","tag-ethereum","tag-ethereum-price","tag-ethereum-regulation","tag-ethusd","tag-ethusdt","tag-regulation","tag-sec"],"acf":[],"yoast_head":"\nRegulatory Scrutiny Threatens Ethereum\u2019s Rise, 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Regulatory Scrutiny Threatens Ethereum\u2019s Rise, Will It Succumb Under Pressure?","url":"http:\/\/wncen.com\/news\/ethereum\/regulatory-scrutiny-threatens-ethereum-rise-will-it-succumb-under-pressure\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/regulatory-scrutiny-threatens-ethereum-rise-will-it-succumb-under-pressure\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Ethereum-bear.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Ethereum-bear.jpg?fit=965%2C500"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cftc","eth","eth price","ethereum","ethereum price","ethereum regulation","ethusd","ethusdt","regulation","sec"],"dateCreated":"2022-10-05T17:00:47Z","datePublished":"2022-10-05T17:00:47Z","dateModified":"2022-10-05T17:00:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Regulatory Scrutiny Threatens Ethereum\\u2019s Rise, Will It Succumb Under Pressure?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/regulatory-scrutiny-threatens-ethereum-rise-will-it-succumb-under-pressure\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/regulatory-scrutiny-threatens-ethereum-rise-will-it-succumb-under-pressure\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Ethereum-bear.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Ethereum-bear.jpg?fit=965%2C500\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cftc\",\"eth\",\"eth price\",\"ethereum\",\"ethereum price\",\"ethereum regulation\",\"ethusd\",\"ethusdt\",\"regulation\",\"sec\"],\"dateCreated\":\"2022-10-05T17:00:47Z\",\"datePublished\":\"2022-10-05T17:00:47Z\",\"dateModified\":\"2022-10-05T17:00:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Ethereum-bear.jpg?fit=965%2C500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/504966"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=504966"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/504966\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/504969"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=504966"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=504966"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=504966"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}