Following positive remarks from the Fed Chairman, Bitcoin's price has resumed its upward climb, providing strength to altcoins. However, the regulatory landscape remains complex. Notably, the price of DOGE surged by 10% at the time of writing.

SEC's Shifting Stance on Ethereum Security Classification

Before the transition to Proof-of-Stake (PoS) through the Merge, SEC Chairman Gensler appeared more flexible regarding Ethereum's security status. However, with the network's move from Proof-of-Work (PoW) to PoS, Gensler now views it as a security. This shift underscores the challenges faced by crypto projects, as they seem to draw criticism regardless of their actions.

Regulatory Scrutiny on Ethereum's Security Status

The SEC has initiated a campaign asserting that Ether is a security, indicating ongoing regulatory scrutiny. This development comes amidst broader discussions on the regulatory classification of cryptocurrencies.

XRP, DOGE, LTC, and BCH Face Regulatory Dynamics

Following regulatory actions against Ether by the SEC, Coinbase made a significant move by applying to the CFTC for certificates for DOGE, LTC, and BCH futures. If approved by April 1st, these cryptocurrencies could be officially recognized as commodities. Notably, XRP did not experience a similar increase as it was not included in Coinbase's application.

The price of Dogecoin surged by 12%, LTC by 5%, and BCH once again exceeded $400. A Bloomberg ETF analyst provided commentary on Coinbase's recent initiative.