JPMorgan says Ethereum must come under a new category or be classified as a commodity to insulate it from overregulation.

In a research note on Thursday, JPMorgan strategist Nikolaos Panigirtzgolou said regulating Ethereum (ETH) as an alternative asset would see it strike a middle ground between commodity and security regulatory regimes.

SEC Documents Cast Doubt on Status

The strategists argue that the uncertainty around ETH has prevented the Securities and Exchange Commission (SEC) from including it in a list of crypto assets it deems securities.

The agency revised its previous list in its recent lawsuits against Binance and Coinbase.

SEC documents from 2018 suggested that Ethereum occupied a regulatory no man’s land because it was sufficiently decentralized. Therefore, it did not fit the definition of a security according to the Howey Test. 

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Author: David Thomas

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