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Consensys, founded by Joe Lubin and a key player in the cryptocurrency industry, has filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) in a Texas federal court. This legal challenge arises from the SEC's recent classification of Ethereum (ETH) as a security, a shift from its previously more lenient stance. The lawsuit seeks a declaratory judgment to confirm that Ethereum is not a security and that Consensys has not violated federal securities laws with its MetaMask wallet software, which the SEC claims was operating as an unlicensed brokerage. This case could significantly influence the regulatory framework for cryptocurrencies in the United States.
🚨NEW: @FinancialCmte cap markets subcommittee is holding a hearing next week on @SECGov’s enforcement. Great opportunity for members to highlight arbitrary and unjustified enforcement actions. Would imagine the agency’s regulation by enforcement framework will be on the top of… https://t.co/oHaYBscAua
🚨NEW: @FinancialCmte cap markets subcommittee is holding a hearing next week on @SECGov’s enforcement Great opportunity for members to highlight arbitrary and unjustified enforcement actions. Would imagine the agency’s regulation by enforcement framework will be on the top of… https://t.co/ZetBn7lo3L
🚨NEW: @FinancialCmte cap markets subcommittee is holding a hearing next week on @SECGov’s enforcement Great opportunity for members to highlight arbitrary and unjustified enforcement actions. Would imagine the failure of the agency’s regulation by enforcement framework will be… https://t.co/VoTaC6sHOI
