Coinbase has submitted a strongly-worded letter to the Securities and Exchange Commission
TLDR
Central to Coinbase’s argument is that Ether should be classified as a commodity, not a security. The company points to the Commodity Futures Trading Commission’s (CFTC) regulation of Ether futures, federal court rulings stating Ether is not a security, and the SEC’s lack of objection to the CFTC’s commodity designation.
