Joseph Lubin, who is also the CEO of ConsenSys, stated that he believes U.S. regulators will become more open-minded regarding cryptocurrencies, particularly decentralized protocols and blockchain technologies. Lubin says that the United States will show positive change in this area, with the rest of the world following the same path.
SEC is Obsessed with Cryptocurrencies
The SEC (Securities and Exchange Commission) argues that most crypto tokens are actually securities, and therefore demands that crypto firms register with the SEC before selling tokens. Major cryptocurrency companies like Binance, Coinbase, and Ripple are fighting various lawsuits due to allegations of legal violations with the SEC. SEC Chairman Gary Gensler clearly stated his stance on the issue, declaring, “The vast majority of crypto tokens are securities.”
Joseph Lubin, speaking on CNBC’s “Capital Connection” program, said, “I anticipate that, with previous technologies like the internet, the web and cryptography, clear heads will prevail,”. According to Lubin, it is inevitable that America will adopt a more positive approach to decentralized protocols and blockchain technologies.
Lubin states that America will eventually realize that blockchain and cryptocurrencies are actually in line with American philosophies. “I think the rest of the world will follow the same path,” he adds.
Despite SEC Chairman Gensler’s view that many tokens are securities, Lubin argues that these claims need to be proven.
The stance of U.S. regulators on cryptocurrencies holds decisive significance for the industry. Ethereum co-founder Joseph Lubin’s positive comments provide hope for a more ‘open-minded’ approach in the sector. However, how the legal framework for the crypto world will shape up is still uncertain, and there are many individuals and institutions that are not as optimistic as Lubin on this matter.