According to documents released by Coinbase, the New York State Attorney General had requested the U.S. Securities and Exchange Commission to publicly declare Ethereum's ether as a security, rather than a commodity, during the state's prosecution of KuCoin in 2023. This request was made by Shamiso Maswoswe, chief of the Investor Protection Bureau for the New York AG, in a document obtained through a Freedom of Information Act request.
The SEC was asked to file an amicus brief in support of the argument that Ether is a security, which would have been beneficial for investor protection. However, the SEC did not provide a clear stance on the matter, ultimately implying that ETH is a commodity, similar to bitcoin.
The documents also reveal the SEC's ongoing interest in the categorization of crypto assets and the oversight gaps in digital assets, including discussions about Ripple and XRP in 2021.