COIN - Joseph Lubin Accuses SEC Of Stifling Crypto Growth Amid Legal Showdown | Benzinga
Joseph Lubin, co-founder of Ethereum (CRYPTO: ETH) and CEO of Consensys, has openly criticized the Securities and Exchange Commission (SEC) for what he perceives as deliberate obstacles placed in the path of innovation within the U.S. financial sector.
What Happened: Speaking at FT Live’s Crypto and Digital Asset Summit in London, Lubin expressed concerns over the SEC's approach to Ethereum (CRYPTO: ETH) and its classification as a security.
Lubin’s comments come in the wake of Consensys receiving a Wells notice from the SEC, prompting the company to initiate legal action against the regulator.
"The SEC appears to have reclassified Ether as a security without telling anybody that that's the case. They are going about a strategic series of enforcement actions rather than open discourse and clear rulemaking," he stated.
The motivation behind these enforcement actions, according to Lubin, is to sow fear, uncertainty, ...