Swiss banking group Amina Bank: If Ethereum is recognized as a security, the crypto team may exit the industry

Odaily News Swiss banking group Amina Bank said in its latest crypto market monitoring report that designating Ethereum as a security "would pose a significant risk to the entire cryptocurrency and DeFi ecosystem." Such a definition could lead to DeFi platforms that allow users to leverage cryptocurrency assets being deemed "unregistered securities brokers." In addition, cryptocurrency exchanges that intend to list ETH will be required to register with the U.S. SEC. It added that the operational complexity caused by such a designation would force "most crypto teams to exit the field." The report also warned that if the SEC continues to declare ETH a security, protocols using PoS consensus may be forced to return to PoW consensus. (Bitcoin.com)