Consensys sues SEC for ‘illegal power grab’ over Ethereum

The complaint states that the SEC’s infringement authority over Ethereum stems from its own past statements that the cryptocurrency is a commodity, not a security (citing a 2018 speech by former director Bill Hinman) and the SEC’s sister regulator, the Commodities Futures Trading Commission. He added that it is a violation. (CFTC) is its own authority on Ethereum, which oversees derivatives linked to Ethereum.