ETH is operating and trading with the US. It falls under US jurisdiction. The line of "we are not registered anywhere therefore we don't have to follow laws in any jurisdiction" is pretty weak and farcical. And sorry to be cheeky but... Have you seen some of the absurd claims and arguments crypto people make about the "infinite power" of crypto to somehow evade all laws and solve all social problems, while simultaneously making everyone rich just for holding some tokens? I wish I was making this up, or maybe I was just getting trolled...
I did read it and it is honestly not that complicated. The SEC is being generous here. They could make the argument even if there were no validators. But I hope this is the start of them shutting down the validators too.
