Cryptocurrency markets have been through a very active period in the past week. However, this activity and volatility continues to increase at full speed. In particular, Lido DAO, Serum (SRM) and UNI showed significant upward performance, while important breakthroughs came in Ethereum and Bitcoin.
Ethereum (ETH) rose very quickly from the $1,100 band to $1,400. Similarly, Bitcoin (BTC) received an instant rise.
Is ETH a Security?
According to the latest information that has emerged, Saylor, a well-known Bitcoin maximalist, recently made some comments during an interview with crypto market commentary program “Altcoin Daily”. The host of the program asked Saylor to share his views on the adoption of Bitcoin and Ethereum as securities by several US legislators, as well as several officials from the Securities and Exchange Commission (SEC) and the Commodities and Commodity Futures Trading Commission (CFTC). .
Saylor, on the other hand, used the following words in his statements on the subject;
“I think it's pretty clear that Ethereum is a security. ETH was issued through an ICO. There is a management team. There was pre-mining. There is hard fork. There are hard forks all the time. One of the fundamental understandings in the crypto industry is the fact that you can change it. is what makes it a security."
In addition to these, the CEO continued as follows;
“If you look at most of these cryptos, where they have hard fork after hard fork, the problem with the hard fork is that changing the protocol means the development team has made a decision, and if you can change the protocol you can change the monetary protocol in a material way. It can change the distribution pattern or change the value of something so that it makes an investment contract under securities law.”