Bankless Why ConsenSys is Suing the SEC | Joseph Lubin & Matt Corva
May 1, 2024
Joseph Lubin, Co-founder of Ethereum and CEO of ConsenSys, teams up with Matt Corva, ConsenSys' General Counsel, to tackle the SEC's aggressive stance on Ethereum. They reveal the SEC's attempts to classify Ether as a security, potentially reshaping the crypto landscape. The duo discusses legal strategies against the SEC, emphasizing the risk to decentralized finance and user autonomy. Their court battle could establish Ether's true classification, impacting Ethereum's future and the wider crypto ecosystem, all while advocating for clearer regulations.
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US Disconnection from Ethereum
- ConsenSys believes the U.S. is trying to disconnect from Ethereum by targeting MetaMask and other key projects.
- Classifying MetaMask as a broker-dealer could stifle software development and usage across the Ethereum platform.
Ethereum Under Attack
- ConsenSys's lawsuit against the SEC is unique because it focuses on Ethereum itself, not just specific company operations.
- The SEC is scrutinizing open-source developers and the technology itself, exceeding its authority.
88,000 Pages to the SEC
- ConsenSys produced 88,000 pages of documents to the SEC, including GitHub contributions.
- This alarmingly includes contributions to open-source code, revealing the SEC's scrutiny of Ethereum developers.