SEC Makes Bizarre Claim About U.S. Jurisdiction Over Ethereum in Court Filing | BTC Price Update

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SEC Makes Bizarre Claim About U.S. Jurisdiction Over Ethereum in Court Filing The SEC is suing crypto YouTuber Ian Balina for making undisclosed promotions of an Ethereum-based ICO-era crypto project, Sparkster. In its filing, the SEC claimed that Ethereum transactions should be considered as taking place in the United States since there are more nodes in the U.S. than in any other country.

“At that point, [SPRK investors’] ETH contributions were validated by a network of nodes on the Ethereum blockchain, which are clustered more densely in the United States than in any other country. As a result, those transactions took place in the United States.”