Ethereum co-founder and Consensys CEO Joseph Lubin has accused the United States Securities and Exchange Commission (SEC) of intentionally stifling innovation in the cryptocurrency industry to protect the existing financial landscape.
TLDR
According to Lubin, the SEC appears to have reclassified Ethereum as a security without openly communicating this change to the public.Lubin stated.Lubin added.Lubin warned.
The Consensys CEO concluded that the entire technology industry in the U.S. could be impacted by the actions of the securities regulator. He argued that the SEC’s enforcement actions are setting a dangerous precedent that could hinder innovation and growth in the sector.
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Author: Oliver Dale
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