A recent SEC investigation into insider trading has revived debates over whether Ethereum could qualify as a security.
Some have argued that ETH passes the Howey test due to the way it was launched and Ethereum’s move to Proof-of-Stake.
As ETH stakers earn revenue from validating blocks on the Ethereum network, there is an argument that ETH investors buy the asset with the expectation of a profit. However, a security classification from the SEC seems unlikely.
Ethereum co-founder Vitalik Buterin said the upcoming blockchain’s merge to proof-of-stake consensus would not adversely affect miners minting new tokens on the blockchain’s predecessor, Ethereum Classic.
Game development giant Square Enix partnered with nonfungible token (NFT) platform Enjin (ENJ) to launch a digital and physical collection featuring Final Fantasy VII, a highly popular video game series.