If Prometheum says Ethereum is a security, the SEC doesn’t need to specifically approve that, but it may present an opportunity for the SEC, not to have to declare one way or another on its own, but just sort of as a result change its position. The SEC would then be required to engage the CFTC, which it appears they have not done, and come to some process through which products which are only overseen by the CFTC today — futures products — would somehow morph into products which are traded on platforms overseen by both agencies. The law blog identified at least some precedent for that, but it raises a whole host of questions.
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- vir: https://www.coindesk.com/consensus-magazine/2024/04/18/it-can-be-said-with-confidence-the-sec-is-investigating-ethereum-consensys-bill-hughes-talks-crypto-law/?utm_medium=referral&utm_source=rss&utm_campaign=headlines