Lawyer Faults The SEC Over “Inconsistent” Crypto Regulation

• Ether qualifies as a security based on the classification by Gary Gensler and Joseph Lubin.
• Lubin said buying tokens in large quantities, or speculating qualifies them as securities.
• Gensler said Lubin bought Ether in large quantities to speculate.

According to Steven Neyaroff, an attorney and blockchain pioneer, Ether qualifies as a security based on the classification by Gary Gensler, the SEC chair, and the actions of Joseph Lubin, the co-founder of Ethereum. 

Lubin is saying if you buy tokens in large quantities or to speculate it’s a security. Gensler on video said Lubin was a VC who bought Ether in large quantities to speculate.

So, Ether is a security according to Lubin & Gensler due to Lubin’s actions.

Wanna brag some more Joe?… https://t.co/BFLi3ZRmPv

— Steven Nerayoff (@StevenNerayoff) November 12, 2023

Neyaroff used logical analysis of statements made by Lubin and Gensler at separate events to deduce a curious conclusion. According to Neyaroff, Lubin said that buying a particular crypto token in large quantities or speculating on it qualifies such crypto tokens as a security. The blockchain expert also noted Gensler’s comments, where he c…

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