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US Securities and Exchange Commission Gary Gensler recently reiterated that Proof-of-Stake cryptocurrencies like Ethereum may be securities. These statements from regulators have fueled an uncertainty among crypto market participants.

Also read: Ethereum layer-2 Arbitrums most awaited airdrop of 2023 is expected on March 23

The Securities and Exchange Commission Gensler commented on intensified scrutiny of Proof-of-Stake (PoS) cryptocurrencies. Gensler reiterated that PoS tokens like Ethereum may be securities as these coins are promoted by creators, offering returns.

Gensler said during an open meeting of the SEC on Wednesday,

I would suggest that each of these token operators, obviously consulting with the appropriate talent, seek to come into compliance.

Developers behind Ethereum Proof-of-Work (PoW) recently shared a proposal for the formation of an All-In-One Ecosystem DAO- EthereumPoW one.

Since the inception of the PoW project, NFTs and DeFi protocols have emerged in the ecosystem. Through these projects, PoW developers witnessed potential in the EthereumPoW ecosystem.

To encourage developers, projects and investors to participate in developing the EthereumPoW ecosystem, the team behind ETHW proposed the establishment of the DAO.

Ethereum Proof-of-Work token ETHW is gaining relevance and popularity in the crypto community. The token offered 4% gains since March 16, and ETHW climbed nearly 11% over the past week.

US regulators stance on PoS tokens and Ethereum is one of the drivers of rising market share and demand for ETHW.

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SECs Gary Gensler wants Proof-of-Stake Ethereum to be regulated as a security, will traders turn to ETHW? - FXStreet