Ethereum Co-Founder: ETH's Commodity Status Is 'a Foregone Conclusion'

NFT Now
NFT Now

29 Jun 2023 6:53 PM

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.

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You May Ask

What is Joseph Lubin's view on the regulatory status of Ether?What are the Hinman emails and how do they relate to Ether's classification?Who else shares the view that Ether is a commodity?What is the role of Congress in clarifying Ether's classification?How has SEC Chairman Gary Gensler approached the regulation of the crypto industry?

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