Ethereum Message from the Company Suing the SEC

Consensys, one of the biggest names in the Ethereum ecosystem, criticized the US Securities and Exchange Commission (SEC).

While Consensys appreciates the SEC's approval of Ethereum ETFs, it explained that the agency's sanctions in the cryptocurrency industry are unfair and hinder innovation.

Consensys filed a lawsuit against the SEC last month, saying, “Although ETH does not have the characteristics of a security, the U.S. Securities and Exchange Commission is seeking to regulate ETH as a security.”

“This approval means that the SEC views ETH as a commodity and not a security, which is contrary to the position they took prior to this week,” the company said following the approval of the ETFs.