Insights on SEC’s Investigation into Ethereum 2.0
Paul Grewal, the Chief Legal Officer at Coinbase, recently shared insights on the X platform regarding the SEC’s investigation into Ethereum 2.0 during Gary Gensler’s tenure. The information was acquired following a lawsuit filed under the Freedom of Information Act (FOIA). Grewal highlighted that a range of previously undisclosed documents is now available for scrutiny.
Key Findings
- A May 2022 PDF named “Analysis of Ethereum 2.0 under the Howey Test” created by SEC staff.
- An email from February 2023 addressing queries about Ethereum’s status as a security.
- A document from April 2023 titled “2 – Ethereum 2.0”, which is believed to be a memo reviewed by SEC commissioners prior to the initiation of the investigation into Ethereum 2.0.
- An August 2023 email regarding the scheduling of discussions on Ethereum.
- Two emails dated February 2024 that question the security classification of Ethereum, listed as “FW Spot Ethereum – Is it a Security or Not?” and “Ethereum – Is it a Security or Not?”
- Additional emails and attachments from February and April 2024 that outline potential legal strategies concerning Ethereum.
This discovery marks a significant development in the ongoing conversation about the regulatory environment surrounding cryptocurrencies, as Coinbase gears up to delve deeper into these findings.
