From Wells Notice to Prosecution: US SEC Chases Consensys

Two months after the Wells Notice was issued, the US SEC decided to continue to pursue ConsenSys.

On June 28, 2024, the US SEC formally sued ConsenSys.

In the complaint filed by Consensys against the SEC, Consensys refuted the US SEC's three key points:

Ethereum is a global computing platform, not an investment plan. ETH is not a security, but a commodity, which the US Commodity Futures Trading Commission (CFTC) has repeatedly confirmed.

Applications that allow people to use Ethereum to trade on their own are not securities brokers and therefore cannot be regulated by the US SEC. The SEC's illegal power grab has the potential to undermine the United States' position as the leader of the next generation of the Internet

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