ChainCatcher reported that according to The Block, Consensys founder Joseph Lubin said at an Ethereum community meeting in Brussels on Wednesday that U.S. regulators "neglected their duties" and certain senators and bank lobbying groups were able to "opportunistically" intervene and guide the SEC's crypto policy.

Lubin also said that he and other participants were forced to deal with unclear legislation. "For many years, we have become accustomed to operating under the cloud of regulatory uncertainty," he said. Despite this, Lubin said he believed that regulators were making "real progress," in part because of the upcoming U.S. election, where lawmakers are now looking for new ways to win votes and raise money for their campaigns.