Ethereum (ETH) Co-Founder Challenges U.S. SEC in Groundbreaking Cryptocurrency Lawsuit

• In a recent interview, Joseph Lubin, co-founder of Ethereum and CEO of Consensys, discussed his ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
• The conflict centers around the SEC’s attempts to classify Ethereum’s native cryptocurrency, ETH, as a security.
• Lubin believes that the SEC’s actions represent a broader effort to assert control over Ethereum and the decentralized technologies built upon it.

Joseph Lubin, co-founder of Ethereum and CEO of Consensys, sheds light on his legal battle with the SEC over the classification of ETH as a security, and its implications for the future of the decentralized web.

SEC’s Alleged Attempts to Classify ETH as a Security

The SEC’s conflict with Consensys revolves around their alleged attempts to classify Ethereum’s native cryptocurrency, ETH, as a security. This move by the SEC could have far-reaching implications for the future of the decentralized web. Last month, Consensys received a Wells Notice from the SEC, indicating that the regulator is considering suing the company over its MetaMask wallet. The SEC takes issue with two specific features of MetaMask: token swapping and staking.