The regulator does not want to undermine its arguments in ongoing legal action against Coinbase and Binance.
The reported probe into Ethereum and its foundation could be a way for the securities regulator to comfortably deny spot Ether (ETH) ETFs and satisfy senator blowback without undermining its ongoing lawsuits, according to a crypto lawyer.
On March 22, general partner of Van Buren Capital and finance lawyer Scott Johnsson offered his opinion on why the SEC may have reportedly launched its probe into Ethereum and the Ethereum Foundation.
One of the theories, according to Johnsson, is that the SEC could be using the probe to placate crypto skeptics who have demanded a tougher stance from the agency.
