Consensys, a Target for the SEC’s Assault on ETH, Is Fighting Back
Summary
Consensys is suing the SEC over its attempt to regulate Ethereum as a security, despite previous statements that ETH is not a security. This lawsuit is part of a broader pushback by U.S. crypto companies against what they see as overzealous regulation. Consensys aims to clarify that ETH is a commodity, its popular Ethereum wallet is not a broker, and to prevent the SEC from suing the company. The SEC's aggressive actions, including subpoenaing open source developers, have prompted Consensys to take legal action. The company's lawsuit may ultimately challenge the SEC's authority to regulate crypto and could potentially reach the Supreme Court.
