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SEC sued over Ethereum, crypto firm asks court to state token is not a security
❖ SEC SUED OVER ETHEREUM, CRYPTO FIRM ASKS COURT TO STATE TOKEN IS NOT A SECURITY
— *Walter Bloomberg (@DeItaone) April 25, 2024
“The SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys. Every holder of ETH, including Consensys, would fear violating the securities…
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Consensys sues the SEC in defense of the Ethereum ecosystem
Consensys, the leading blockchain and web3 software technology company, today filed a lawsuit (the "complaint") against the Securities and Exchange Commission ("SEC") to ensure that Ethereum remains a vibrant and indispensable blockchain platform and the foundation for countless new web3 innovations, technologies, and products. The complaint highlights how the SEC is attempting to unlawfully regulate ether through ad hoc enforcement actions against Consensys and possibly others -- the latest examples of aggressive and unlawful SEC overreach. If allowed to expand its regulatory purview, the SEC would effectively ... (full story)