It’s A 'Forgone Conclusion' That Ethereum Is A Commodity, Says Joe Lubin - Decrypt

Decrypt
Decrypt

29 Jun 2023 3:14 AM

The ConsenSys Founder says Gary Gensler may not be able to admit it, but that his hesitancy doesn’t matter....

  • Ethereum co-founder Joseph Lubin is not concerned about regulators treating Ether (ETH) as a security.
  • Lubin refers to former SEC commissioner Bill Hinman's 2018 speech on crypto securities and Ethereum as the regulatory verdict on Ethereum.
  • The CFTC considers Ether as a commodity, according to Lubin.
  • CFTC Chairman Rostin Benham believes Bitcoin, Ethereum, and Tether should fall under the agency's jurisdiction as commodities.
  • SEC Chairman Gary Gensler has not publicly declared his stance on Ether.
  • Members of Congress, including Cynthia Lummis and Kirsten Gillibrand, are working on legislation to clarify the status of Ether as a commodity.
  • Lubin believes it is a foregone conclusion that Ether is not a security, despite some regulators' reluctance to acknowledge it.
  • The SEC has sued Binance and Coinbase, alleging that several assets listed on their platforms, including BUSD, are securities.

The sentiment of the article is generally positive, with Joseph Lubin expressing confidence in the regulatory status of Ether and downplaying concerns about its classification as a security.

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You May Ask

How does Joseph Lubin view the regulatory verdict on Ethereum?What is the stance of the CFTC regarding Ether and other cryptocurrencies?Has SEC Chairman Gary Gensler publicly declared whether Ether is a security or a commodity?Who are the members of Congress working on legislation to clarify the status of Ether?Which platforms have been sued by the SEC for listing securities, including BUSD?

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