Ether withdrawals to begin on April 12 as SEC Chair Gensler restates that ETH is a security Ethereum Ether ETH
- The Ethereum network is all set to undergo its Shanghai-Capella hard fork, also known as Shapella, after the update was successfully integrated into the Goerli testnet, the final test run before the mainnet launch.
Beiko attributed the failure to upgrade to the fact that Goerli ETH “is worthless,” and expects mainnet validators to make the proper adjustments ahead of the mainnet integration. The Shapella hard fork was previously launched on the Sepolia and Zhejiang testnets, and all three testnets have successfully processed Ether withdrawals from their own validator sets.As the ability to withdraw staked Ether approaches, Securities and Exchange Commission chair Gary Gensler has once again reiterated that tokens that use staking protocols could be considered securities under U.S. law.
These comments fall in line with previous statements made by the SEC head that tokens and intermediaries that allow users to “stake” their coins may pass one of the qualifications of the Howey test, which is used to determine whether an asset is a security.
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