As you may remember, one of the biggest names in the Ethereum ecosystem Consensusto the SEC last April. EthereumHe filed a lawsuit on the grounds that he was trying to describe the company as a security.
In this case Consensy had asked the court to find that ETH was not a security.
While the case is ongoing, the SEC spot Ethereum ETF approved their applications and made a big decision.
While this decision was welcomed by the market and investors, an ETF statement came from Consensys.
Accordingly, Consensys stated that they found the ETF approval decision correct and welcomed it, but SECHe argued that ‘s sanctions against the cryptocurrency industry are unfair and hinder innovation.
“Regarding today’s SEC decision:
While Consensys welcomes today’s decision to approve ETH Spot ETFs as a step in the right direction, this seemingly last-minute approval is yet another example of the SEC’s troubling ad hoc approach to digital assets.
No industry, market or asset other than the cryptocurrency industry is subject to such willful regulatory abuses. This restrictive stance by the SEC is unfair to market participants, contrary to the rule of law, and stifles innovation.
Today’s approval demonstrates that the SEC considers ETH to be a commodity and not a security, contrary to the negative stance it continued to take prior to this week’s events, as explained in our recent lawsuit against the SEC.
“We will continue to fight for definitive regulatory clarity on Ethereum, and we are pleased to see Congress’ tremendous bipartisan effort to provide clear and sensible regulation.”
On today’s SEC rulings:
While Consensys welcomes today’s decision to approve ETH Spot ETFs as a step in the right direction, this seemingly last minute approval is yet another example of the SEC’s troublesome ad hoc approach to digital assets. No other industry, market, or…
— Consensys (@Consensys) May 23, 2024
*This is not investment advice.
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