Consensys has initiated a lawsuit against the SEC to protect the Ethereum network and its associated software development from what it terms as overzealous regulatory interference. The legal action, filed in Texas, aims to safeguard the rights of developers, investors, and users within the Ethereum ecosystem, emphasizing the principles of rule of law, fair notice, and due process. This move comes in response to the SEC's attempts to classify Ethereum-related activities, potentially impacting the decentralized nature of the asset, which many, including the CFTC, recognize as a commodity. Key figures such as Bill Hughes and Matt Corva have been highlighted as instrumental in this challenge, which also addresses multiple secret SEC investigations described as an unlawful power grab. The broader crypto community, including influential platforms like Coinbase and Uniswap, has shown support for Consensys's stance against the SEC's regulatory approach.
A Republican lawyer and crypto defender who hopes to be @SenWarren's opponent in the Massachusetts Senate race, @JohnEDeaton1, has filed a supporting brief in a @coinbase clash against the @SECGov. @jesseahamilton reports https://t.co/NF4og7FrsB
Our litigation against the SEC is intended to defend the entire Ethereum ecosystem, including developers, from overzealous interference with their software development work. https://t.co/4j5MnSoYmk
Our litigation against the SEC is intended to defend the entire Ethereum ecosystem, including intermediaries and developers, from overzealous interference with their software development work. https://t.co/4j5MnSoYmk
Our litigation against the SEC is intended to defend the entire Ethereum ecosystem, including intermediaries and developers, from overzealous interference with their software development work. #ETHforALL https://t.co/4j5MnSoqwM
Coinbase, Uniswap Execs Praise Ethereum Giant Consensys for Taking On SEC ► https://t.co/NHED3kMj1S https://t.co/NHED3kMj1S
Crypto vs the SEC 👨⚖️ While we post on 𝕏 a fierce battle over the future of this industry wages on. Gary Gensler & the SEC want nothing more than to curtail crypto in the US. Some have stepped up & are fighting for our rights. 👉❤️🫡🫡 $COIN $UNI $ETH $HEX $TON $XRP https://t.co/yR8sIrpEVu
Grateful for companies like @Consensys for stepping up and continually defending this space. https://t.co/uZljv64dUY
Sue the Exchange Commission Thanks @ethereumJoseph and @Consensys for fighting back and defending our industry We're tired of the overreach and harassment https://t.co/vtWxqKxv9n https://t.co/yDTjjiaJWl
Sue the Exchange Commission Thanks @ethereumJoseph and @Consensys for fighting back and defending our industry Our industry is tired of the overreach and harassment https://t.co/hfOJfsCRxo https://t.co/yDTjjiaJWl
This aged like 🥛 In 2019, @Consensys founder @ethereumJoseph said they are “big friends and fans”of the @SECGov, explaining that the agency views bitcoin and ether as “decentralized” and that no transactions involving those particular assets are considered to be securities. https://t.co/XJGwprohK9
Today we sued the SEC in our home state of Texas to defend ETH & the Ethereum network from Chair Gensler's unlawful power grab. We've been forced to defend multiple secret SEC investigations for years now. It's time they saw the light of day. #EthforAll #crypto #sec #consensys https://t.co/vAQWpP6SH0
I know ETH is a commodity. You know ETH is a commodity. The CFTC knows ETH is a commodity. It's time for the SEC to admit that it still knows ETH is a commodity too. No more games. Thank you to @Consensys for standing up against the SEC's unlawful expansion of authority. https://t.co/8w7A4PBwUK
Consensys is not just challenging the SEC's scofflaw approach to digital asset markets and developers. It is also defending principles that make our system of governance work: the rule of law, fair notice, and due process. Thank you @Consensys @BillHughesDC @MattCorva https://t.co/44V54RG2Yt
LET'S GO CONSENSYS! All the crypto should grateful that we have @ethereumJoseph and the OG team at @Consensys fighting the good fight against a politically motivated and anti-innovation regulator. https://t.co/ItQVM0ieWv
Today, we sued the #SEC. They have no right to unplug the U.S. from #Ethereum. They have no right to prohibit peer-to-peer blockchain software. Too many Americans - developers, investors, and everyday users - are going to be hurt if they are allowed to continue unopposed.… https://t.co/RxInVS9ZCg