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JPMorgan Strategists Suggest New "Other Category" for Ethereum to Avoid Securities Designation by Congress

June 16 (Cointime) - JPMorgan strategists have suggested that the US Congress could either classify Ethereum (ETH) in the same commodity category as Bitcoin (BTC) or create a new "other category" with less burdensome regulations than securities. This comes after some US Securities and Exchange Commission (SEC) officials questioned the details of a 2018 speech that stated ETH is not a security. The release of the "Hinman documents" may explain why the SEC has been avoiding taking action against ETH while targeting almost all major competitor tokens this year. Overall, the release of the documents is likely to benefit Ethereum and influence the direction of the current US congressional effort to regulate the crypto industry.

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