Former Commodity Futures Trading Commission (CFTC) commissioner Brian Quintenz has criticized the Securities and Exchange Commission (SEC)’s stance on Ethereum (ETH). He labeled the SEC’s approach toward ETH as as “illegal” and raised concerns over potential regulatory confusion.
Ex-CFTC Commissioner Provides Clarity On Ethereum Classification
In a thread on X, Quintenz’s critique spotlighted the SEC’s approval of Ethereum futures ETFs on regulated security exchanges in October 2023. In addition, he emphasized that the SEC’s decision implicitly acknowledged Ethereum’s status as a non-security and outside its jurisdiction. He stated, “When the SEC allowed ETH Futures ETFs to trade on its regulated security exchanges, it explicitly acknowledged the status of the underlying, ETH, as being a non-security and outside of its jurisdiction.”
According to Quintenz, the approval of Ethereum ETFs by the SEC, post Ethereum’s transition to proof-of-stake (PoS) consensus mechan
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