Consensys CEO: SEC Reclassifies Ethereum as a Security

Joseph Lubin, CEO of Consensys, has stated that the SEC is resistant to changes in the banking sector driven by Ethereum.

Lubin claims that the regulator is classifying Ethereum as a security and is taking enforcement actions instead of engaging in constructive dialogue with the industry.

In response, Consensys plans to file a lawsuit against the SEC following its notification.

Lubin also pointed out that the SEC is unwilling to approve an Ethereum ETF due to concerns about potential disruptions in the industry.