Blockchain News
The SEC claimed it has jurisdiction over all Ethereum transactions because the chain's nodes are "clustered more densely" in the U.S. than elswhere.
SEC: Ethereum Transactions Take Place in US
On the face of it, it was just a typical U.S. Securities and Exchange Commission enforcement action, when the SEC charged crypto promoter Ian Balina for not disclosing compensation he received from Sparkster for publicly promoting its tokens, and failing to file a registration statement with the regulator for Sparkster tokens ($SPRK) that he resold to a pool of at least 50 investors.
One statement in the SEC complaint against Balina, however, has turned heads in crypto circles, because the American regulator appears to suggest that it has jurisdiction over all transactions on Ethereum, the second-largest decentralized blockchain after Bitcoin.
The SEC stated that U.S.-based investors irrevocably committed to the purchase of SPRK tokens, which were built on the Ethereum...
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