If PoS makes ETH a security, how exactly does the SEC plan to regulate it? Will they establish official policy that validators and full-nodes would be expected to follow, internationally or only nodes operated in the US?

It will be interesting to see how the SEC addresses these regulatory challenges. Keep an eye on this space for updates!

It recently occurred to me they could always play a kind of cop out and say, it technically qualifies as a security but if it’s not commercially based in the US we can’t regulate - and just wait for all the more corporate oriented projects to move themselves into a position to be regulated and sort of corner a huge chunk of the industry that way - at least that won’t crush us enthusiasts with projects like FC and others that weren’t really about being large financial ecosystems anyway…