Consensys CEO Joseph Lubin stated that “the US Securities and Exchange Commission (SEC) does not want Ethereum to change the banking landscape.” This is reported by Cointelegraph citing his words at the FT Live summit.
CEO Consensys believes that digitizing the banking industry using decentralized financial constructs “could scare many banks and other financial institutions.”
Lubin added that the SEC is engaged in enforcement actions instead of constructive dialogue with the cryptocurrency industry. He believes that such activities are designed to sow fear and uncertainty in the sector.
In addition, Lubin spoke about Consensys’ decision to sue the regulator after receiving the “Wells message”:
He also spoke about the possible approval of Ethereum-ETF. The SEC is concerned that a lot of attention and capital could be directed into the ecosystem, he said. Lubin added that the regulator “doesn’t want to see a wave of innovation that will really change the landscape.”
Earlier, Grayscale Investments CEO Michael Sonnenshein said that the company was optimistic about the approval of spot Ethereum-ETFs.
Source: Cryptocurrency
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