Ethereum drops 20% as SEC declares control over network

Ethereum drops 20% as SEC declares control over network

Gary Gensler chairman of the US SEC. The SEC says that since the majority of Ethereum transactions are validated in the US, it should be regulated in the US. Photo: Reuters/Evelyn Hockstein

Ethereum has plummeted by over 20% despite last week’s successful transition to proof of stake as the shadow of a major US regulator body falls over its rising ambitions.

The world’s second-largest blockchain was declared as coming under the jurisdiction of US government and Security Exchange Commission,…


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