There are strong discussions in the industry that the SEC is considering placing a “security mark” for Ethereum just as it did for XRP. This may reduce the chances of the ETF being approved by a securities regulator. According to Alex Thorne, Head of Corporate-Wide Research at Galaxy Digital. If the SEC inquires about cryptocurrency companies’ interactions with the Ethereum Foundation. This could draw scrutiny over whether Ethereum’s initial coin offering (ICO) in 2014 was an unregistered offering of securities. Instead of simply classifying the current secondary trading of ETH as securities trading.
Thorne predicted that although the SEC may differentiate between an initial coin offering (ICO) and the current secondary trading of ETH. Any enforcement action against the Ethereum Foundation after nearly a decade would be “highly unusual.” However, crypto industry players like Coinbase (COIN) are backing Ethereum, saying the CFTC and SEC couldn’t have different opinions on the asset class. The dollar is heading to record a weekly rise after a shift in interest expectations
On Friday, the dollar is heading to record broad gains for the second week, after the interest rate hike in Japan failed to stop its march and the surprise interest rate cut in Switzerland highlighted the gap between the attitudes of the US Federal Reserve and its peers around the world. The week represented a shift in global monetary policy after the Swiss National Bank and central banks in developing countries lowered interest rates, or indicated their intention to do so.
June is the likely date for the European Central Bank to cut interest rates.