Crypto advocacy group Coin Center spelling out why it believes Ethereum (ETH) is not a security, despite claims to the contrary coming from New York Attorney General (NYAG) Letitia James.
In a new lawsuit against the crypto exchange Kucoin, Attorney General James argues Ethereum is a security that relies on the efforts of third-party developers to generate profits for its holders.
The Attorney General calls ETH “a speculative asset” and placed the leading smart contract platform in a group with the collapsed crypto project Terra (LUNA) and its algorithmic stablecoin TerraUSD (UST).
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Coin Center’s director of communications Neeraj Agrawal refutes the NYAG’s assertions and says the think tank’s view on Ethereum remains unchanged.
“Obviously, we disagree with the NYAG’s argument that ETH is a security. Coin
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