Yet another US politician at the center of crypto industry regulation has changed stances on Ether’s legal classification.
Senator Cynthia Lummis (R-WY) revealed Wednesday that she now views the second largest cryptocurrency as a security – not a commodity.
Bitcoin is the Only Crypto Commodity: Lummis
Lummis expressed her changed view on the asset with CoinDesk on Tuesday while discussing the measures that may have prevented FTX’s collapse last month. She suggested that her digital asset regulation bill proposed in June, which seeks to provide clarity on how to classify crypto assets, could have done so.
“Right now, the way things sit, it’s starting to look more like Bitcoin is the only thing that would qualify as a commodity,” she said.
The senator’s statement is a departure from her claims in June, which would have made room for Ether as a commodity, alongside Bitcoin. However, with Ethereum’s switch to a proof of stake consensus mechanism after September’s Merg
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