Consensys CEO Joseph Lubin publicly attacks the US SEC. In addition to the lawsuit already filed.

Lubin, as a co-founder of #Ethereum, believes that the US SEC is deliberately hindering innovation, threatening the future of the US financial system.

According to Lubin, the SEC reclassified#ETHas a security without notifying anyone. And it takes a series of strategic coercive actions instead of open discourse and clear rule-making.

The CEO of#ConsenSyslinked the regulator's enforcement action against#ETHwith the approaching deadline for spot Ethereum ETFs. Lubin said that the SEC does not want#ETHto repeat the fate of#BTCand begin to receive a new influx of liquidity. And they don’t want ETH to “change the banking landscape.”

As a reminder, the US Securities and Exchange Commission (SEC) is scheduled to make a decision on the#VanEckand#ARKInvestapplications on May 23 and 24, respectively. These are the first final deadlines for applications.