The post Consensys Founder Asserts Ethereum (ETH) as a Commodity appeared first on Coinpedia Fintech News
Joseph Lubin, the founder of Consensys and co-founder of Ethereum, believes that Ethereum’s native cryptocurrency, Ether (ETH), should be classified as a commodity. In a recent CNBC interview, Lubin discussed his stance and provided insights into the regulatory landscape surrounding Ether. Let’s delve into the key points of the interview.
Regulatory References: SEC and CFTC
Lubin during his interview referred to past statements made by regulatory bodies, particularly the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), to support his argument. While the SEC has recognized Bitcoin as a commodity, its chairman, Gary Gensler, has yet to explicitly acknowledge Ether as such.
Notably, Lubin drew attention to a significant speech by former SEC official Bill Hinman in 2018, which declared Ether as not being a security. He further hig
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