Consensys Applauds SEC Spot ETH ETF Approval as Proof ETH is Not a Security
CryptoNewsTerminal Staff24 May, 2024
Consensys Applauds SEC Spot ETH ETF Approval as Proof ETH is Not a Security
ConsenSys Praises SEC's Ethereum ETF Approval, Asserting Ethereum is a Commodity ConsenSys, a leading blockchain infrastructure company, has welcomed the SEC's approval of a spot Ethereum (ETH) ETF. The company views this as a significant step towards regulatory clarity and recognition of ETH as a commodity, not a security. ConsenSys's Views on SEC Regulation In a blog post, ConsenSys emphasized the SEC's history of regulatory overreach in the crypto space and expressed concern about the agency's "regulation by enforcement" approach. The company stressed that this approach stifles innovation and called for a more collaborative approach. Wells Notice Dispute ConsenSys's support for the ETH ETF approval comes despite the SEC's recent Wells Notice to the company, alleging violations of securities laws through its MetaMask wallet. ConsenSys has maintained that MetaMask is a software tool that does not constitute a security. Growing Adoption of ETH The approval of the spot ETH ETF is seen as a major development in the crypto industry. It signals growing mainstream acceptance of Ethereum and is expected to further drive its adoption.
