Despite the recent market rout, Ethereum co-founder and chief executive officer of ConsenSys, Joseph Lubin remains confident that “clear heads will prevail” in the crypto industry, despite the turmoil and regulatory uncertainty.
According to Lubin, America will continue to lead the world in embracing blockchain technology just as it did with the internet.
“Ether is a Commodity” The US Securities and Exchange Commission (SEC) under Chair Gary Gensler is considering most tokens as securities, however, a year-long battle between Ripple Labs and the SEC over the nature of Ripple’s XRP token concluded in July, confirming that XRP is not a security.
Despite this, Lubin said that crypto assets really need to be demonstrated to be a security before they can be considered securities.
He also stands by his belief that ether is a commodity.
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