What a whirlwind crypto has been lately. On June 5, the Securities and Exchange Commission (SEC) announced a lawsuit against Binance, the world's largest crypto exchange company. SEC Chairman Gary Gensler must have had two cups of coffee that morning because he followed up the Binance allegations with a fresh lawsuit against , the largest crypto company in U.S., the very next day.

Since the collapse of crypto exchange FTX and a number of other crypto companies in 2022, regulators in the U.S. have taken a scorched-earth approach to rein in companies potentially in violation of offering cryptocurrencies that meet the criteria of securities. 

This dilemma of whether cryptocurrencies are a security, commodity, or something else entirely is one of the unanswered questions facing the industry. And it's one that has long plagued one cryptocurrency in particular -- Ethereum (CRYPTO: ETH). 

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Source Fool.com