Coinbase Disclosure Documents Show New York Attorney General Asked the US SEC to Classify ETH as a Security

Odaily News Coinbase recently obtained and disclosed a batch of internal communication documents of the U.S. Securities and Exchange Commission (SEC) through the Freedom of Information Act (FOIA), which showed that the New York Attorney General's Office had asked the U.S. SEC to clearly identify Ethereum (ETH) as a security during the lawsuit against KuCoin in 2023.
Shamiso Maswoswe, director of the New York Investor Protection Bureau, said in a letter that he hopes the SEC will submit a friend of the court opinion to support the view that ETH is a security in order to strengthen investor protection. However, the SEC ultimately did not accept the request, but the document revealed the regulator's internal discussions on the qualitative issues of ETH, especially after Ethereum switched to the PoS consensus mechanism. Coinbase said that this disclosure is intended to increase regulatory transparency and promote the public's understanding of crypto asset regulatory policies. (CoinDesk)