Consensys CEO: 'Clear Heads Will Prevail' Amid Crypto Legal Battles


September 14, 2023


Gabriel Negrín

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Joseph Lubin, co-founder of Ethereum and CEO of Consensys, voiced hope, hoping that "clear heads will prevail" amid the SEC's legal battles with crypto businesses. Lubin told CNBC's Capital Connection that blockchain and cryptocurrencies are consistent with US values. He also expects other governments to follow suit.

Binance, Coinbase, and Ripple are among the cryptocurrency leaders involved in continuing litigation battles with the SEC over potential securities law violations. SEC Chair Gary Gensler claims that most crypto tokens are securities, whereas Lubin claims they must demonstrate such classification. Lubin still believes that ether is a commodity in the face of regulatory uncertainty. While Grayscale's GBTC fund triumph and Ripple's partial success before the SEC in July didn't change Gensler's opinion, they did influence US/crypto businesses' attitudes toward corporate relocation.

At a recent conference, Gensler issued a caution against non-compliance in the cryptocurrency sector, citing the dangers of investor harm and wider effects on the financial system.