Ethereum Co-Founder Predicts SEC Will Back Down On Crypto Regulation

Joseph Lubin, co-founder of Ethereum ETH/USD, says he's confident that the ongoing disagreements between crypto companies and the Securities and Exchange Commission (SEC) will be resolved favorably.

Lubin said, “clear heads will prevail” in the context of the SEC's ongoing deliberations on whether crypto tokens should be classified as securities.

This evolving regulatory landscape and its implications for the broader crypto industry will be a focal point of discussions at Benzinga's Future of Digital Assets conference on Nov. 14. The event will offer insights from the industry's top thought leaders into the challenges and opportunities presented by such regulatory developments.

During his appearance on CNBC’s “Capital Connection,” Lubin drew parallels with past technological advancements, stating, “I anticipate that, with previous technologies like the internet, the web and cryptography, clear heads will prevail.”

He further emphasized that decentralized protocols, blockchain, and cryptocurrency align with U.S. philosophies.

Also Read: Why Bitcoin Wikipedia Page Traffic Just Hit 2023 Peak

Lubin, who also heads the blockchain tech firm ConsenSys, believes that the U.S.'s stance will influence global perspectives, suggesting that “much of the rest of the world will follow suit.”

Major crypto entities, including Binance BNB/USD, Coinbase COIN, and Ripple XRP/USD, are currently embroiled in legal battles with the SEC over alleged regulatory breaches.

Addressing SEC Chairman Gary Gensler's views, Lubin remarked, “He indicated that he feels that many tokens are securities, although they really need to be demonstrated to be that. He can’t just make that pronouncement.”

"A lot of countries take some of their lead from the U.S.," Lubin said. "The U.S. has a lot of influence on the world through financial intermediaries and other intermediaries, and decentralized protocol technology is about right sizing and eliminating intermediaries in many ways."

"The U.S. is also all about free markets, capitalism, and free speech." he added.

Read Next: FTX Gets Green Light To Liquidate $3.4B In Crypto To Pay Off Creditors

Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event - Future of Digital Assets. Tickets are flying-  get yours!

Photo: Shutterstock