SEC’s Ethereum Circus: The Show Must Go On! 🎪

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Well, folks, gather ’round! Coinbase’s Chief Legal Officer, Paul Grewal, is raising the alarm bells louder than a rabbi at a bar mitzvah! 🎉 He’s got a juicy email from 2024 that shows the SEC is still poking around Ethereum’s legal status like a kid with a stick in a beehive, even after giving the green light to Ethereum ETFs! 🐝

These revelations came straight from the SEC’s FOIA (Freedom of Information Act) Reading Room, where they keep all the juicy gossip. The emails, dated April 17, 2024, reveal that SEC Chair Gary Gensler called an “impromptu” meeting about Ethereum ETPs. You know, just a casual chat before the big show in May when ETH ETFs were officially approved! 🎭

It all started when SEC staffer Jorge Tenreiro sent a message to Gregory Smolar saying, “Hey, Gary called a meeting! I’ll update the talking points. Jorge is available tonight if you want to talk.” Sounds like a bad sitcom, doesn’t it? 😂

These emails show the SEC was sweating bullets over Ethereum. It’s like they’re trying to figure out if Ethereum is a commodity or a security while juggling flaming torches! 🔥

Grewal pointed out that while the SEC has given a thumbs up to Ethereum ETFs, they still can’t decide if Ethereum is a commodity or a security. Talk about a regulatory gray area! It’s like trying to find a parking spot in New York City! 🚗

Many users are scratching their heads, saying, “The SEC’s contradictory actions expose the agency’s chaotic regulatory approach.” Another chimed in, “Approval of ETH ETFs while still investigating? What’s next, a circus act?” 🎪

People are clamoring for clearer rules and more transparency from the SEC. Some even suspect the SEC is hiding the good stuff, with one user asking, “How can we make an informed objection about redacted content without it being labeled?” Sounds like a plot twist in a bad movie! 🎬

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2025-06-09 23:33