TechFlow, May 7 — According to CoinDesk, internal communications obtained by Coinbase from the U.S. Securities and Exchange Commission (SEC) through the Freedom of Information Act reveal that during New York State's 2023 lawsuit against KuCoin, the Office of the New York Attorney General requested the SEC to publicly declare Ethereum’s native token ETH as a security rather than a commodity.
Shamiso Maswoswe, Director of the Investor Protection Bureau in New York, stated in the request that while the classification of ETH had minimal impact on New York's case, it would be more beneficial for investor protection if a court recognized ETH as a security. However, the SEC ultimately did not respond to the request and maintained its position of treating ETH as a commodity.
