Feb 10, 2023
Lubin Confident ETH Won’t Be Classified As Security in US
Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) will not be classified as a security in the United States.
Cointelegraph spoke with Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, in Tel Aviv at the Web3 event, Building Blocks 23. When asked if ETH could be classed as a security in the U.S. after Ethereum’s transition to a proof-of-stake (PoS) consensus model, Lubin said it was as likely as “if Uber was made illegal.”
He continued, noting that “there would be a tremendous outcry from not just the crypto community but different politicians and certain regulators.”
Lubin has had discussions with the SEC and the Commodity Futures Trading Commission “for many years” and believes that the regulators now understand that “lots of tokens are not securities.”
He believes that ETH continues to be “sufficiently decentralized” and pointed to its “many use cases that don’t implicate it as a security” as proof of this.
Lubin also noted that regulators appear to be more focused on stablecoins right now, with Coinbase founder and CEO Brian Armstrong responding to “rumors” that the SEC was thinking to ban retail consumers from staking crypto. Armstrong noted that staking is “not a security” and would be a “terrible path for the U.S.” if a staking ban was passed.
The crypto space has been abuzz with talk of NFTs, or Non-Fungible Tokens, recently. These tokens are digital assets that are unique and can be used for a variety of purposes, from digital art to digital collectibles. NFTs have become a popular way for crypto users to promote their projects or services, and have been used by many to sell NFTs.
Joseph Lubin is a strong advocate of NFTs and believes that they have the potential to revolutionize the way that digital assets are marketed. He believes that NFTs can be used to create a powerful marketing tool for web3 projects, which can be used to promote projects and services across various social media platforms.
Lubin has also created a web3 agency, which specializes in NFT marketing. The agency offers services such as Twitter NFT marketing, NFT promotion, and NFT marketing agency services. The agency has helped many projects and services to gain exposure and increase their visibility in the web3 space.
In conclusion, Joseph Lubin is confident that Ether (ETH) will not be classified as a security in the United States. He has had discussions with the SEC and the Commodity Futures Trading Commission “for many years” and believes that the regulators now understand that “lots of tokens are not securities.” He is also a strong advocate of NFTs and believes that they have the potential to revolutionize the way that digital assets are marketed. He has created a web3 agency, which specializes in NFT marketing, to help projects and services gain exposure and increase their visibility in the web3 space.
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.
