US SEC may be forced to declare Ether as a security

Prometheum plans to launch a custodian service for Ether, the cryptocurrency native to the Ether blockchain whose $280bn market capitalisation is second only to Bitcoin, a move that is part of a larger strategy by the crypto firm to get the SEC to treat Ether as a security, a position that is generally unpopular with its peers in the industry, according to an article published by Fortune. Prometheum, which claims to be the first and only special-purpose crypto broker-dealer licensed under U.S. SEC rules, reportedly announced last December that it had received SEC approval to clear and settle transactions in digital asset securities.