We are trying to make the Binance SQUARE Platform more valuable and attentive for you. Here are the details of our news;

The SEC has issued subpoenas to companies associated with the Ethereum Foundation, Fortune reported, citing informed sources.

Company representatives who received the subpoena stated that the investigation focused on the Ethereum Foundation. Some companies stated that their subpoenas came after Ethereum's transition called "Merger" in September 2022, which symbolizes Ethereum's transition to the proof-of-stake (PoS) consensus system.

Fortune reported that the regulator's investigation also required reviewing documents and financial records reflecting the companies' interactions with the Ethereum Foundation. The Ethereum Foundation is a non-profit organization based in Switzerland that provides development and management of the Ethereum blockchain.

The SEC's move raises questions about whether it is part of a broader push to classify Ethereum as a security and challenges expectations that the regulator will approve spot Ethereum exchange-traded funds (ETFs) in the near future.

The regulator has delayed approval of several spot Ether ETFs and notified Van Eck on Wednesday that the decision on the final application has been postponed until May 23. While industry leaders were initially optimistic about the likelihood of spot ETF approval on May 23, some noted that probability had been reduced to only 28%.

Immediately following The Merge, SEC Chairman Gary Gensler stated that tokens in the PoS consensus system could be considered securities because investors make profits by relying on the efforts of others.

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So who will benefit?

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I EXPLAIN IN DETAIL.

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