$ETH Ethereum Faces New Legal Challenge Against SEC🚨

Consensys files lawsuit similar to last year's GBTC case.

New lawsuit responds to SEC's aggressive stance on crypto firms.

Consensys argues SEC's jurisdiction over Ethereum is illegal.

In today’s market analysis, we mentioned that a lawsuit similar to last year’s GBTC case could be filed against the SEC for an Ether ETF. Hours later, major Ethereum supporter Consensys filed a lawsuit against the agency. Although there was no significant movement in Ethereum’s price, the shift from defense to offense is a positive sign.

SEC Faces Ethereum Lawsuit

The new lawsuit is a response to SEC Chairman Gary Gensler’s war on crypto companies, including Coinbase and Uniswap. In its 34-page filing, Consensys claims that the SEC’s efforts to exert jurisdiction over Ethereum are illegal. Moreover, it argues that this poses a threat to the future of blockchain technology.