If Ethereum is considered a security by the SEC, what would Ethereum Classic be?

[bbc.reporter]

What would happen to Ethereum Classic if Ethereum was considered a security by the SEC? Technically was Ethereum not the fork and Ethereum Classic the original? Shouldn't the SEC instead go after Ethereum Classic?

This is a very confusing matter and, for me, something the SEC cannot handle. The future of the cryptospace should not rest on the decision of a group of people who do not know anything about it.

[BTCwin1]

I think it's hard to define it as a security, and XRP might be defined as a security.
But ETH is now quite decentralized.

[bbc.reporter]

@BTCwin1. Yes that is what they are delibirating about. The closed door discussion between the SEC and the people from the cryptospace did not come to any decision on how to categorize ETH.

I reckon the SEC fears that, if they say that it's an illegal security, but  cannot stop Ethereum because it is decentralized, then it would show that the American government has no control over their financial system anymore.

It might take years before they can make a decision on how to categorize the cryptospace.