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In the short history of cryptocurrency, only a few weeks have there been as much progress as this one. In Washington DC, support from both parties suddenly coalesced. Cryptocurrency regulation bill on Wednesday, followed by an incredible 11 o’clock the next day. approval Spot Ethereum ETF from the U.S. Securities and Exchange Commission (SEC).
Ethereum co-founder and Consensys CEO Joe Lubin said the two events, especially the SEC’s sweeping changes to Ethereum, represent a sea change in how cryptocurrencies are treated in the U.S. moving forward.
“I think this is a game changer,” the entrepreneur said. decryption In an exclusive interview.
ConsenSys 7 billion dollars The Ethereum software company founded by Lubin is currently caught in several traps. legal battle The legal status of cryptocurrencies is being discussed with the SEC. (Disclosure: Consensys is one of 22 investors. Decrypt.) But Rubin believes this week’s events could turn the calculus on that battle on its head by proving that cryptocurrencies have ascended to a higher status within the US establishment.
“I think this has now become a very important political issue,” he said. “And that comes first.”
“To get elected, you probably need to have a blockchain decentralized protocol ecosystem,” Lubin continued. “Or at least you don’t want them to hate you.”
Regarding today’s SEC ruling:
While Consensys welcomes today’s decision to approve the ETH spot ETF as a step in the right direction, this last-minute approval is another example of the SEC’s troubling and ad hoc approach to digital assets. Other industries, markets, or…
In Lubin’s view, the SEC’s decision to approve a spot ETH ETF was undeniably a last-minute political decision, potentially implemented at the behest or demand of the White House itself.
That political pressure, previously several cryptocurrency lobbyists in Washington. said decryptionIt most likely stems from a series of election-related circumstances last week.
SEC leaders may be thinking that things are no different about cryptocurrencies than they were a week ago. The silence in the institution was deafening. But now political pressure may be hindering an aggressive and ongoing legal campaign against the country’s top cryptocurrency companies like Consensys.
But Rubin isn’t letting his guard down yet.
“We have to remain vigilant,” he said. “We cannot guarantee that we will not be attacked again.”
Edited by Ryan Ozawa.
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