Ethereum’s Joe Lubin expressed his support for the SEC, claiming that the agency does not stifle innovation
As the US Securities and Exchange Commission faces a barrage of criticism for its scattered approach to regulating cryptocurrency, the regulator many fear has found a supporter within the industry: Joseph Lubin, CEO of ConsenSys.
In a recent interview with The Information, Lubin, known as one of the founders of Ethereum, claimed that SEC Chairman Gary Gensler’s demands for more authority in regulating cryptocurrencies are justified.
The head of the development studio at Ethereum says that the agency has a lot of “legitimate arguments”:
[The SEC] She may have legitimate arguments in the issues being discussed now.
While Ripple, the company sued by the Securities and Exchange Commission in December over its sales of unregistered securities, accuses the agency of stifling innovation in the United States, Lubin doesn’t think this is the case:
I don’t think the SEC is trying to squash innovation.
Ripple insists that XRP has been treated unfairly by the Securities and Exchange Commission (SEC) since, unlike Ether, it has never received regulatory clarity.
William Hinman, a former senior official at the SEC, who said that Ether was not an unregistered security, became a breeding ground for conspiracy theories about potential interest within the XRP community. Some believe that Hinman had an in-game appearance simply because of his ties to law firm Simpson Thacher, which is a member of the Enterprise Ethereum Alliance.
However, the Securities and Exchange Commission made it clear that it has not taken an official position on its regulatory status, and Hinman was only expressing his personal opinion.
Ripple CEO Brad Garlinghouse has been careful with his choice of words, avoiding promoting “free pass” conspiracy theories. But he said in a recent interview that the timing of the lawsuit was “suspicious.”
