The suit lodged Monday is against the founder of a crypto investment research firm over allegedly undisclosed incentives linked to an initial coin offering. It also detailed the movement of Ether tokens in relation to the case.
Those Ether transactions originated in America and “were validated by a network of nodes on the Ethereum blockchain which are clustered more densely in the US than in any other country,” the SEC said. “As a result, those transactions took place in the US.”
The comment appears in the 69th paragraph of the 23-page filing, a lowly position which perhaps cautions against reading too much into it. Still, it winks at the possibility of a case for US jurisdiction over the most commercially important blockchain based on where the bulk of its computing happens.
Source: SEC Lawsuit Hints at Case for US Jurisdiction Over Ethereum Network – Bloomberg
