According to PANews, the Chairman of the U.S. Securities and Exchange Commission (SEC), Gensler, has consistently considered Ethereum (ETH) as 'unregistered securities' that do not comply with current federal regulations over the past year. This information was revealed in legal documents related to the SEC's lawsuit against Consensys, as reported by Fox Business.
Furthermore, on March 28, 2023, Gurbir Grewal, the head of the SEC's enforcement division, approved a formal order to investigate the status of Ethereum as a security. This order authorizes law enforcement officers to investigate and subpoena individuals and entities involved in the case. It is reported that the recipients of the subpoenas, following the instructions of the U.S. Securities and Exchange Commission, must maintain strict confidentiality about the investigation if they wish to learn more about its details.