A article understands New York State Attorney General asked the SEC to indicate that Ethereum is a securities during his prosecution

According to the U.S. cryptocurrency exchange Coinbase released a large number of communications with government agencies on Wednesday, it showed that the New York state attorney general asked the U.S. Securities Regulatory Commission (SEC) to publicly state that "Ether is a securities" rather than a "commodity" during the 2023 lawsuit against KuCoin.

According to documents filed by Coinbase with the SEC under the Freedom of Information Act, Shamiso Maswoswe, director of the Investor Protection Agency of the New York Attorney General's Office, hopes that the SEC will participate in the discussion during the court offense and defense, and propose a briefing on the SEC's views on Ether.

"We want the SEC to submit a report of a friendly court (a person who is not a party to the lawsuit, or who is actively or at the invitation of the court to provide advice or assistance in the case) in support of the argument that Ether is a securities," Shamiso Maswoswe said in the filing requesting the SEC.

“In our case, whether it is or is not a securities does not have a decisive role (we have jurisdiction over securities and commodities), but I think it is beneficial to have the court determine Ether as a security for investors.”

As Coinbase makes more documents related to the company's legal disputes with federal authorities on the Internet, these and other privately-related cryptocurrencies exposed Coinbase's earlier release of multiple letters dealing with Federal Deposit and Insurance Corporation (FDIC), which support the industry's claim that U.S. bank regulators are actively pressuring banks to stay away from cryptocurrencies.

The request made by New York State authorities in 2023 did not receive support from the SEC, and the SEC still generally does not express its views on the status of Ether. The SEC initially suggested that Ethereum might be a commodity, but after Ethereum switched to the "Proof of Stake (PoS)" consensus mechanism, the SEC seemed to have changed its original view. However, the SEC ultimately still takes a stance that implies that Ether is a commodity, just as Bitcoin is a commodity.

The definition of cryptocurrency in the judicial field has always been the crux of the industry's long-term dispute with US regulators. But such disputes have now eased as current U.S. President Donald Trump takes a friendly tone towards cryptocurrencies and Trump's new SEC chairman Paul Atkins has also taken a friendly stance on cryptocurrencies. The SEC has continued to issue statements indicating that some digital asset areas are beyond the scope of securities recognized by the authorities.

The results are not important for the above-mentioned New York State case, because the New York State Financial Services Agency (NYDFS) regulates both securities and commodities, unlike the federal government's regulatory system that is managed separately, commodities are managed by the U.S. Commodities are managed by the U.S. Commodities are managed by the U.S. Commodities are governed by the CFTC (CFTC) and securities are governed by the SEC.

Later in December 2023, New York State reached a $22 million settlement with KuCoin because KuCoin was not registered as an exchange in New York State. New York Attorney General Letitia James said she would "continue to take action against any company that blatantly defies the law and endangers deposits and investments in New York people."

Other SEC documents show that the SEC continues to be interested in the classification of crypto assets and the regulatory gap in digital assets in the United States. The SEC launched a long-term lawsuit against Ripple in 2020, accusing the company of illegal operations in the United States, but the lawsuit recently ended with Ripple's victory. In addition, Ripple even recovered a portion of the funds from the previously fined amount.

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