The big boss of the SEC, Paul Atkins, just dropped some heavy truth bombs.
The guys running the show at the SEC, usually like old-school mobsters eyeing every move, now giving Ethereum a big ol’ nod.
Not a security, they say. The market’s got a green light to treat ETH like it’s the family business.
The cloud of uncertainty
Before Atkins spoke up, everyone was scratching their heads, wondering, is Ethereum a security?
Are we stepping on the regulator’s turf? You know how it goes, every move in crypto feels like gambling. This uncertainty kept people cautious. But not anymore.
On CNBC’s Squawk Box, Atkins made it clear, SEC’s informal chatter said Ethereum’s not a security. Not legally bound like a stock or bond.
And when it comes to companies holding it on their balance sheets? Well, that’s their business. Atkins said this opens the door to a brighter, innovative future.
“It’s encouraging to see the market embrace assets like ETH.”
Corporate treasuries bet big on Ethereum
Bit Digital, a crypto miner dumped 280 Bitcoin, about $172 million worth, to back Ethereum exclusively.
Their stash jumped from 24,434 ETH to 100,603 ETH. SharpLink Gaming doubled down even harder, now sitting on 280,706 ETH, worth nearly $867 million, making them the largest corporate holder, even above the Ethereum Foundation itself.
Almost all are staked, quietly earning rewards. Like passive income while you sip your coffee and pretend to look busy at the office.
Ethereum’s role
And it’s not just about hoarding ETH. Atkins pointed to stablecoins getting the regulatory stamp of approval, potentially speeding up securities settlements on-chain with less risk and lower fees.
This could shake up US capital markets like a power play nobody saw coming.
He also flagged retirement plans, investors want private funds, even crypto-based, inside their 401(k)s.
But the rulemakers gotta work together, laying down clear standards so fiduciaries can safely offer these.
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