Ethereum, the cryptocurrency, is still under investigation from the U.S. Securities and Exchange Commission due to disputes over crypto tokens being made available and secure.
Ethereum under fire from SEC over alleged violations
In a press release this week, Co-founder of Ethereum, Joseph Lubin suggested that clear heads and clarity of thinking are the best way to proceed through the investigation. This comes after the cryptocurrency has been hit by waves of regulatory boards demanding the tightening and transparency of crypto commodities, tokens and intermediaries.
Lubin stated:
America will see that decentralized protocols, blockchain, and cryptocurrency are aligned with the philosophies of the U.S. And I think much of the rest of the world will follow suit.
In March, Lubin told CNBC:
People buy barrels of oil with the expectation of profit – I stand by my conviction that ether is a commodity.
Ethereum is not the only crypto company to face duress; Binance, Ripple, and Coinbase are also under the watchful eye of the SEC for violating security laws by selling native cryptocurrency XRP without registering it with the SEC.
Don’t miss out the latest news, subscribe to LeapRate’s newsletter
However, many crypto leaders have warned the SEC that their laws and regulations lack clear instructions. CEO of Binance, Changpeng Zhao indicated that the company would remove itself from U.S. users if the SEC does not implement better-outlined laws. This would damage the U.S. reputation as the global leader in crypto-related movement.
