Ethereum Co-Founder: ETH's Commodity Status Is 'a Foregone Conclusion'
As the regulatory battle between the SEC and the crypto industry heats up, Joseph Lubin is keeping a cool head. Here's why....
- Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, believes that Ether (ETH) is a commodity, not a security.
- Lubin refers to the recent release of the Hinman emails, which revealed contradictory opinions within the SEC regarding Ether's classification.
- He dismisses the opinions of regulators who still consider Ether a security, stating that it doesn't matter.
- CFTC Chairman Rostin Behnam shares a similar viewpoint, while SEC Chairman Gary Gensler has not explicitly classified Ether.
- Members of Congress are drafting legislation to clarify Ether's classification, aligning with the CFTC's view.
The sentiment of the article is generally positive towards Joseph Lubin's view that Ether is a commodity and the efforts to clarify its classification.