Gary Gensler: “In my opinion, Ethereum passed the Howey Test and that means that it would be considered a security.”
https://twitter.com/BTCGandalf/status/1466159935843094531

------------

If SEC declares ETH as a security, US exchanges (Coinbase, Kraken and others) will have to delist it, since it is not a registered security which must be traded on regulated exchanges. And the switch to POS will only worsen the SEC attitude in the coming months.