The SEC now Claims All of Ethereum Falls Under US Jurisdiction

[HAL1000]

In a civil complaint against a crypto influencer, the SEC suggested that it believes the U.S. government has jurisdiction over all Ethereum transactions.

When the SEC filed a federal lawsuit Monday against crypto influencer Ian Balina for his failure to register a cryptocurrency as a security before launching a 2018 initial coin offering (ICO), everything at first appeared run-of-the-mill: the SEC has, for years, filed civil suits against individuals and organizations for rolling out unregistered ICOs. 

Eagle-eyed observers then read a little further into the fine print. 

In a bold and potentially unprecedented move buried in the lawsuit’s 69th paragraph, the SEC today claimed it had the right to sue Balina not only because his case concerns transactions made in the United States, but also because, essentially, the entire Ethereum network falls under the US government’s purview.

https://decrypt.co/110107/sec-ethereum-us-jurisdiction

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The SEC maintaining orderly markets.... LOL - these clowns as John Deaton stated - are making this shit up as they go along and that's a fact.

[RikkiTikki_is_Back]

You almost have to wonder now, was the plan to get ethereum  to feel so complacent to believe that they had free reign in the USA so they would pretty much fall into a trap where the government (SEC) would literally have them where they want.  What if Bill Hinman and Jay Clayton were really government OPS all this time as it relates to dealing with consensus, etc. and all this ripple hoopla is done to wrap it in a legal framework that will guarantee protection and then they go after t ETH & BTC..  If we get a settlement this theory will hold more weight for me.  BTC is going to kill itself with POW, got a feeling the worlds governments are planning to tax and regulate it to the point where it is no longer attractive for anyone "I have said on here many moons ago BTC will eventually eat itself!!"  I mean it really didn't take for ETH to move to POS for the SEC to say it is possibly a security, this has been a known fact before they decided to sue ripple them going to POS has no bearing on ETH having an ICO, so was this a setup????

Edited September 21, 2022 by RikkiTikki_is_Back

[peanut56]

I think Gensler wants power. It has nothing to do with ripple vs ethereum vs bitcoin. Clayton and Hinman had personal financial stakes in Ethereum. They are your normal run of the mill corrupted by power and money group. I would put a lot less weight on the government coming up with these great plans and more emphasis on the quality of people in it for themselves making it look like a conspiracy. Also, Russia may be using ethereum to circumvent sanctions and as a result puts a target on it.

I think John Deaton had mentioned how the SEC choose LBRY to try to weasel a ruling in to set precedence in lower courts to make it easier to go after bigger fish. This seems to be another stab at with that strategy. 

[HAL1000]