SnapX

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#ETH Ethereum being classified as a "non-security" is a pivotal turning point in the history of Crypto Assets regulation, and its implications and market impact can be analyzed from the following multiple dimensions:
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### 📌 1. **Core Logic and Meaning of Non-Security Qualitative Characteristics**
1. **Clarification of Regulatory Framework**
- **Product Attribute Confirmation**: The SEC has approved the Ethereum spot ETF (though the fund has not yet been released), which is regarded as a default classification of Ethereum as a "commodity" rather than a security. This determination is co