Few weeks in the short history of cryptocurrency have seen more progress than this one. Suddenly, there was bipartisan support in Washington, DC. Cryptocurrency Regulation Bill Wednesday, and the next day a surprising last-minute Approval Regulation of Spot Ethereum ETF by the U.S. Securities and Exchange Commission (SEC).
For Ethereum co-founder and ConsenSys CEO Joe Lubin, these two events, especially the SEC’s shift in policy regarding Ethereum, represent a major shift in how cryptocurrencies are treated in the U.S., with more to come.
“I think this is a game changer,” the entrepreneur said. Decryption In an exclusive interview.
ConsenSys, $7 billion The Ethereum software company that Lubin founded is currently running multiple Legal battle ConsenSys is in a battle with the SEC over the legal status of cryptocurrencies. Decrypt.But Rubin believes this week's events may prove that cryptocurrencies have been elevated to a higher status within the American establishment, upending the calculus of this battle.
“My guess is that this is now a crucial political issue,” he said, “and that takes priority.”
“If you want to get elected, you're going to need the blockchain decentralized protocol ecosystem on your side,” Lubin continued. “You want to at least get them to hate you.”
In Rubin's view, the SEC's decision to approve the Spot ETH ETF was undoubtedly a last-minute political decision, likely put into action at the behest or request of the White House itself.
That political pressure has led several cryptocurrency lobbyists in Washington to Said DecryptionThis likely stems from a series of election-related events last week.
The SEC leadership likely feels no different about crypto than it was a week ago — the agency’s silence is deafening — but political pressure may be hindering the agency’s aggressive and ongoing legal battles against major U.S. crypto companies like ConsenSys.
But Rubin is not letting his guard down just yet.
“We must remain vigilant,” he said. “It is not conceivable that we will not be attacked again.”
Editor: Ryan Ozawa.
