Bittime - The Ethereum Foundation, a cornerstone organization in the Ethereum ecosystem, is under investigation by unnamed government authorities. This disclosure, discovered from the Foundation's GitHub repository, casts a shadow over Ethereum's future at a critical time.
This news coincides with the United States investment firm's attempt to launch an exchange-traded fund ( ETF ) backed by ETH, the native token of the Ethereum blockchain.
Potential Classification as Securities by SEC Raises Concerns
Further complicating matters, Fortune recently reported that the United States Securities and Exchange Commission ( SEC ) is considering classifying ETH as a security. Such a designation would have significant consequences for Ethereum and the broader cryptocurrency market.
The Ethereum foundation remained silent on this development, which highlights the seriousness and sensitivity of the situation. Previously, the foundation's website included assurances about government investigations; however, those guarantees, along with the "warrant canary" (a signal indicating the absence of a secret government request), have recently been removed.
Check Today's Crypto Market:
| ETH/IDR | SOL/IDR |
| BTC/IDR | ATOM/IDR |
| USDT/IDR | ARB/IDR |
Broader Regulatory and Oversight Concerns Over Cryptocurrencies
While the specific details and focus of the investigation remain unknown, experts speculate a connection to regulatory concerns surrounding ETH's potential classification as a stock. The SEC's scrutiny of Ethereum reflects a broader trend of increasing regulatory scrutiny in the cryptocurrency space.
ETH Price Today
Source: Bittime
Based on the Bittime market on March 21 2024, the price of Bitcoin ETH/IDR has reached IDR 55,783,307 per coin, an increase of 9.70% in 24 hours.
Also Read How to Buy Crypto:
Investor Caution and Industry Uncertainty
As regulatory pressure increases, the outcome of ETH's investigation and classification by the SEC will have profound implications for Ethereum's future trajectory and its position in the broader financial landscape.
Investors and industry players are cautious and monitoring developments closely while awaiting further clarification on the matter.
Check Crypto Prices Today:
How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR . To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH) , Bitcoin (BTC) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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