[cdiddy2]

they have not been registered with the SEC. both are leaderless and therefore lack the ability to register with the SEC

[pwinnski]

BTC is leaderless, which seems to be a large part of why the SEC is convinced it is not a security.

ETH is not leaderless to the same degree, and to my knowledge has not been declared "not a security" by the SEC in the same way BTC has.

[cdiddy2]

well the CFTC says that it is a commodity https://decrypt.co/123032/cftc-chair-says-ethereum-is-a-comm...

and in 2018 an SEC commissioner gave a speech in which he said eth was not a security, but the SEC is doing all they can to muddy the waters on that https://cointelegraph.com/news/sec-seeks-to-keep-hinman-docu...