consensys

ConsenSys Files Lawsuit Against SEC for Regulatory Clarity on Ethereum

The Big Whale

10 May 2024 — 1 min read

ConsenSys, an Ethereum developer, has filed a preemptive lawsuit against the U.S. Securities and Exchange Commission (SEC) in an attempt to determine the regulatory status of Ethereum. The lawsuit asks a federal court in Texas to block the SEC from investigating ConsenSys or declaring Ethereum a security. This move is part of a growing trend of crypto companies taking legal action against the SEC to seek regulatory clarity. Other companies and lobby groups have also sued the SEC on similar grounds, arguing that the SEC is overstepping its boundaries in regulating crypto or that there needs to be a definitive answer on how crypto fits into securities laws. However, it is uncertain how successful these lawsuits will be, as federal courts have had varying rulings on crypto matters. Meanwhile, the SEC continues with its investigations into various crypto companies. SEC Chair Gary Gensler has reiterated that most tokens are securities under current law. The outcome of these lawsuits and the SEC's investigations will shape the regulatory landscape for the crypto industry.

Sources :

- Coindesk
- Decrypt

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TBW - France pays millions to get rid of its surplus electricity

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