Ethereum Falls on Report that it is Under Regulatory Scrutiny
According to a Wall Street Journal report, U.S commodities and securities watchdogs are investigating if the same rules for stocks should be applied to Ethereum and other cryptocurrencies. The analysis is based on whether founders of cryptocurrencies other than Bitcoin have any control over their value, similar to how a company's managers might influence a company's stock value based on strategy and investments.
The Commodity Futures Trading Commission has identified the cryptocurrencies as commodities, meaning they're exempt from SEC regulation. The SEC on the other hand, has indicated that it sees them as securities.
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