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Crypto regulators have struggled to provide legal clarity on whether Ethereum is a security or a commodity. This week, Prometheum announced it would begin to custody ETH as its first digital asset, raising questions about SEC compliance and how ETH will be classified. The move tests the SEC’s expectations and may establish whether the SEC intends to view ETH as a security. Prometheum, a U.S.-registered crypto securities platform, can legally sling Ethereum as a security, potentially creating a monopoly. The SEC, however, is unlikely to designate ether a security, given its preference not to make definite statements about crypto. The move highlights the lack of legal certainty the SEC has provided for the crypto industry.



Read more: Ether’s Prometheum Test | Nasdaq