The former head of the SEC's Internet Enforcement Administration, John Reed Stark, suggested that bitcoin could be an unregistered security.
John Reed Stark made this statement in response to a tweet by analyst Evan Van Ness, who wrote that 855 of the last 1,000 blocks created in the Bitcoin blockchain were mined by only five organizations: Antpool, Foundry, F2Pool, ViaBTC and Binance. This means that they account for about 86% of the total production of blocks, and more than 50% of blocks are created by two enterprises: Antpool and FoundryUSA.

It is believed that bitcoin does not fall into the category of securities, because it is decentralized, that is, no one controls it, it is not issued by a single body and is not traded on any particular market. In this regard, bitcoin is not subject to SEC requirements for registration as a security. Therefore, Stark commented on the Ethereum enthusiast's tweet, writing:

"And why does bitcoin again and again not want to be called a security that should be registered with the SEC?", — wrote a former top manager of the U.S. Securities and Exchange Commission.

In June, SEC Chairman Gary Gensler called bitcoin a commodity. At the same time, he made a reservation that this applies only to bitcoin and does not apply to other crypto assets. As for ETH, the transition of the Ethereum network to the Proof-of-Stake (PoS) consensus algorithm has caused uncertainty regarding the regulatory status of the coin. A few months ago, Gensler said that after the merger of the network, the ether could turn into a security.