Feb 11, 2023
Joseph Lubin Confident ETH Not Classified as Security in U.S.
Joseph Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, expressed his confidence in the future of Ether (ETH) during a recent Web3 event in Tel Aviv. Building Blocks 23 was the venue for Cointelegraph’s interview with Lubin, who spoke on the topic of whether or not ETH could be classified as a security in the United States.
“I think it’s as likely, and would have the same impact, as if Uber was made illegal,” Lubin said, referring to the Securities and Exchange Commission’s (SEC) suggestion in September that the blockchain’s transition to proof-of-stake (PoS) might have brought ETH under the regulators’ beat.
The SEC Chairman Gary Gensler had expressed his belief that staking coins gave “the investing public” anticipation of “profits based on the efforts of others.” Lubin however, believes that ETH continues to be “sufficiently decentralized” and pointed to its “many use cases that don’t implicate it as a security.”
Lubin also spoke of his experience with the SEC and the Commodity Futures Trading Commission (CFTC) over the years, noting that five years ago they were “just trying to wrap their heads around what tokens were” and thought “everything was a security.”
“I think we helped them significantly understand lots of tokens are not securities,” Lubin said.
The Ethereum co-founder believes that the SEC is currently more focused on stablecoins. Coinbase founder and CEO Brian Armstrong recently responded to “rumors” that the SEC was thinking to ban retail consumers from staking crypto, saying that staking is not a security and that such a ban would be a “terrible path for the U.S.”
Lubin believes that the U.S. court system would be supportive of arguments that ETH is not a security, noting that there is “no centralized set of promoters or builders that is specifically trying to raise the value of Ether and enrich investors.”
The crypto entrepreneur is confident that the industry can work together to publish clear rules for the industry, and come up with sensible solutions that protect consumers while preserving innovation.
Not only is Ethereum a platform for financial transactions, but it is also a popular platform for Non-Fungible Tokens (NFTs). NFTs are digital assets that are unique and immutable, and can be used to represent ownership of digital goods such as artwork, music, or even real estate.
NFTs have become increasingly popular in recent years, and Ethereum has become the go-to platform for creating and selling them. NFTs are not only used as a form of digital currency, but they can also be used as a way to promote and market businesses and services.
NFT marketing is a powerful tool for businesses and individuals to reach a wider audience and increase their visibility. It can also be used to promote products and services, and to drive traffic to a website or online store.
Twitter is a great platform for NFT marketing, as it offers a wide range of features and options for creating and promoting NFTs. Companies and individuals can use Twitter to promote their NFTs, as well as to create content and engage with their audience.
NFT marketing agencies can help businesses and individuals to create and promote their NFTs, as well as to develop strategies for selling them. These agencies can also provide guidance on how to create and promote NFTs on Twitter, as well as other platforms.
Ethereum and its associated technologies have opened up a world of opportunities for businesses and individuals to explore the world of cryptocurrencies and web3. Joseph Lubin’s confidence in the future of Ether is a positive sign for the industry, and his comments on the regulation of crypto assets in the U.S. are sure to be welcomed by the crypto community.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
