The SEC’s war against Ethereum and Consensys isn’t over
Gary Gensler will be forced out as SEC chairman if Trump is elected — but he could remain as a commissioner to continue his anti-crypto crusade.
There is a broad misunderstanding in the crypto community about the status of the Securities and Exchange Commission’s (SEC) campaign to undermine blockchain innovation in the United States. When Consensys announced in June that the SEC had decided to conclude its “Ethereum 2.0” investigation, it was taken as another signal that a hostile administration was changing its tune.
That, I’m afraid, is simply not true. The SEC is as antagonistic as it has ever been, and that is unlikely to abate until new leadership takes the agency in a new, more productive policy direction.
It’s understandable that people are a bit confused. Both policy wonks and the public at large perceived that the SEC might be rethinking its stance when it did an 11th hour about-face in late May on approval of a spot Ethereum (ETH) exchange-traded product. When that decision was made, the days were numbered for the SEC’s year-long harassment of the Ethereum protocol development community.
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Author: Bill Hughes
