SEC internal documents reveal details of Ethereum securities controversy and XRP lawsuit

Coinbase, a major US cryptocurrency exchange, has released internal Securities and Exchange Commission (SEC) documents obtained under the Freedom of Information Act (FOIA). It has become clear that regulators have been privately discussing whether to classify Ethereum as a security.

Former SEC Chairman Gensler under the Biden administration has argued that "most virtual currencies are securities and are subject to securities law." He has sued many major virtual currency companies, including Coinbase and Ripple, and has enforced "regulation by enforcement." However, the internal SEC documents released this time reveal that there was uncertainty about regulation within the agency...