Feb 11, 2023
Joseph Lubin Confident ETH Not Classified as Security in US
Joseph Lubin, the co-founder of Ethereum, is confident that Ether (ETH) won’t be classified as a security in the United States. Cointelegraph recently spoke with Lubin at the Web3 event, Building Blocks 23, in Tel Aviv.
Gary Gensler, the Chairman of the Securities and Exchange Commission, suggested that Ethereum’s transition to a proof-of-stake (PoS) consensus model might have brought ETH under the regulators’ beat. However, Lubin believes that ETH is still “sufficiently decentralized” and pointed to its “many use cases that don’t implicate it as a security.”
Lubin has been privy to discussions with the SEC and the Commodity Futures Trading Commission for many years. He said that about five years ago, the regulators were “just trying to wrap their heads around what tokens were” and initially thought “everything was a security.”
Brian Armstrong, the founder and CEO of Coinbase, recently responded to rumors that the SEC was thinking to ban retail consumers from staking crypto. Armstrong said that staking is not a security and that it would be a “terrible path for the U.S.” if a staking ban was passed. He added that it was “a really important innovation in crypto” and that he hoped the industry could work together to come up with “sensible solutions that protect consumers while preserving innovation.”
Lubin believes that regulators are currently more focused on stablecoins than Ethereum. He said people he knows close to the action in Washington D.C. say “most of the focus is on stablecoins right now.”
The Ethereum co-founder also believes that the court system in the United States of America would be supportive of arguments that ETH is not a security. He said that there is no centralized set of promoters or builders that is specifically trying to raise the value of Ether and enrich investors.
Lubin is confident that the crypto space has a bright future ahead. He believes that NFTs, or non-fungible tokens, will be an important part of the web3 space, and that companies should look to NFTs for promotion, marketing, and selling.
NFTs are unique digital assets that are stored on a blockchain, and they are being used to create digital art, collectibles, and even virtual real estate. Companies can use NFTs for promotion and marketing, as well as for selling digital goods and services.
NFTs can also be used for Twitter NFT marketing. Companies can create NFTs to promote their products and services on Twitter, and they can use NFTs as rewards for their followers.
Companies can also hire an NFT marketing agency to help them promote their products and services using NFTs. An NFT marketing agency can help companies create and market NFTs, and they can also help companies create and execute NFT campaigns.
Finally, companies can also hire a web3 agency to help them create, market, and sell NFTs. A web3 agency can help companies create, market, and sell NFTs, as well as help them create and execute NFT campaigns.
Overall, Joseph Lubin believes that the crypto space has a bright future, and that NFTs will be an important part of the web3 space. Companies should look to NFTs for promotion, marketing, and selling, and they can hire an NFT marketing agency or a web3 agency to help them create, market, and sell NFTs.
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.
