Feb 10, 2023

Lubin Confident ETH Not Classified as Security in US

Joseph Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, is confident that Ether (ETH) will not be classified as a security in the United States. This assurance was given during the recent Web3 event, Building Blocks 23, held in Tel Aviv, where Cointelegraph had the opportunity to interview Lubin.

In September, Securities and Exchange Commission (SEC) Chairman Gary Gensler suggested that Ethereum’s transition to a proof-of-stake consensus model could bring ETH under the SEC’s jurisdiction. In response to this, Lubin stated that it was as likely as Uber being made illegal, and that it would cause a “tremendous outcry” from the crypto community and many politicians and regulators.

Lubin informed Cointelegraph that he has been involved in discussions with the SEC and the Commodity Futures Trading Commission for many years. He said that five years ago, the regulators were still trying to understand what tokens were, and believed that everything was a security. Lubin believes that he and the crypto community have helped the regulators to understand that not all tokens are securities, and that ETH is still “sufficiently decentralized”, with many use cases that do not classify it as a security.

Lubin believes that the SEC is now more focused on stablecoins, and in a recent Twitter thread, Coinbase founder and CEO Brian Armstrong responded to rumors that the SEC was thinking of banning retail consumers from staking crypto. Armstrong stated 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 called for clear rules for the industry, and sensible solutions that protect consumers while preserving innovation.

The Non-Fungible Token (NFT) market is booming, and the potential for selling NFTs is huge. However, NFT marketing is still in its infancy, and many crypto projects are struggling to make the most of it. This is where a web3 agency can help.

A web3 agency specializes in NFT marketing and promotion, and can help crypto projects reach their full potential. They can help create and manage an effective Twitter NFT marketing campaign, as well as provide insights into the best ways to promote and sell NFTs. They can also help develop a comprehensive strategy for NFT marketing, and advise on the best ways to use NFTs to increase brand awareness and engagement.

Whether you’re looking to launch an NFT or promote an existing one, a web3 agency can provide the expertise and resources necessary to make the most of the NFT market. With the right NFT marketing strategy, you can maximize the potential of your NFTs and increase your chances of success.

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.