thejoyofsaving.comSEC Statement Joseph Lubin, one of the co-founders of Ethereum and also the CEO of ConsenSys, expressed his confidence that the Securities and Exchange Commission (SEC) cases will be resolved by reason rather than emotions.
The co-founder of Ethereum predicts that rationality will emerge victorious in the SEC’s legal disputes with cryptocurrency companies
Asserting that the bulk of cryptocurrency tokens qualify as securities and must be registered with the regulator before being sold, the US SEC is now involved in legal conflicts with cryptocurrency companies.
In a recent interview, Lubin said, “I anticipate that rationality will ultimately prevail in SEC-related matters, as observed with past technological advancements such as the internet, the web, and cryptography.”
According to Lubin, who is also the CEO of the blockchain technology firm ConsenSys, decentralized protocols, blockchain technology, and cryptocurrencies are in line with American ideals, and he anticipates widespread adoption in the near future.
The SEC sued Ripple and its co-founders in 2020 for breaking securities laws by marketing the regional cryptocurrency XRP without first registering it with the agency.
The SEC accused Coinbase of operating an unlicensed exchange and acting as an unregistered broker in June. During the same time frame, Binance was accused of numerous securities law infractions.
In written evidence provided to the House Financial Services Committee in April, SEC Chairman Gary Gensler stressed that the vast majority of cryptocurrency tokens fall under the category of securities, highlighting the requirement that they be registered with the SEC.
In a March interview, Lubin said Ethereum should not be categorized as a security but rather as a commodity, similar to oil.
*Please note that this information is not intended as investment advice.
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