Consensys, the developer of the MetaMask wallet, commented on the decision of the US Securities and Exchange Commission (SEC) on spot Ethereum ETFs. The firm expressed concern about the regulator's bias against the industry.
On today's SEC ruling:
While Consensys welcomes today's decision to approve ETH Spot ETFs as a step in the right direction, this seemingly last minute approval is yet another example of the SEC's troublesome ad hoc approach to digital assets. No other industry, market, or…
— Consensys (@Consensys) May 23, 2024
The organization stressed that no other industry has been subject to such clear intentional abuse by regulatory authorities. Consensys considers this unfair to market participants.
The company’s position is that with its decision, the SEC officially confirmed the status of Ethereum as a commodity, not a security. This is completely contrary to the previous course of the Commission, the company emphasized.
Source: Cryptocurrency
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