Ethereum co-founder Joseph Lubin is taking legal action against the U.S. Securities and Exchange Commission (SEC), CoinDesk reported. His company Consensys decided to file a lawsuit against the SEC ahead of schedule after receiving a so-called Wells notice, a sign that the SEC was building a case against the company. Lubin said on the main stage of Consensus 2024 that what Consensys is trying to gain through the lawsuit filed in Texas is regulatory clarity, protecting the freedom of the cryptocurrency market, and ensuring that open source developers are not targeted. He also said that the SEC has begun targeting big players in Ethereum, such as decentralized exchange Uniswap, the nonprofit Ethereum Foundation, and major development studio Consensys, because their efforts challenge the potential authority and "vested interests" of regulators and legislators. Lubin emphasized the importance of having a dialogue with "all parties that currently hold power," even though many people are interested in the current political structure.