Joseph Lubin, speaking on CNBC, drew a parallel between the development of the crypto industry and past technological achievements, including the advent of the Internet: it is now used everywhere. In the context of discussions about whether the SEC should classify crypto assets as securities, Lubin expressed hope that a “clear mind” will still prevail. The businessman mentioned statements by SEC Chairman Gary Gensler, who called all crypto assets except Bitcoin securities.
“The fact that all digital assets are securities still needs to be proven. The SEC cannot make such unfounded statements,” the head of ConsenSys said sharply.
Currently, many major crypto companies, including the Binance and Coinbase exchanges, are involved in legal battles with the SEC, accusing them of violating regulatory requirements. However, Lubin is confident that decentralized protocols, blockchain and cryptocurrencies are in line with the US philosophy. In his opinion, if the United States becomes more rational about the regulation of cryptocurrencies, most of the world will follow the example of this state.
“Many countries are following the example of the United States to some extent. States have great influence on the world through financial intermediaries, and the decentralized nature of blockchain and cryptocurrencies lies in the choice of these intermediaries or their elimination. In the United States, free markets, capitalism and freedom of speech are important,” Lubin concluded.
In March, the co-founder of Ethereum said that ether is not a security, comparing the altcoin to oil. Last year, Joseph Lubin suggested that metaverses and Web3 projects would become an integral part of everyday life.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
