Ether has managed to maintain its value above $3,000 and is currently making efforts to reach $4,000 once again.
Meanwhile, the Securities and Exchange Commission (SEC) is considering several applications for cryptocurrency ETFs that focus on alternative coins.
However, Bloomberg analysts predict that the regulator will not approve their proposal. According to an article by Fortune, the SEC is looking to classify ether as a security.
This would put regulation of transactions involving the asset under the control of the Securities and Exchange Commission.
Multiple companies that interact with the Ethereum Foundation have reportedly received a letter from the SEC requesting a report on all transactions involving ETH.
This move by the regulator is believed to be in preparation for the inclusion of alternative coins into the securities category after Ethereum’s planned transition from proof-of-work to proof-of-stake in 2022.
