AUSTIN,
TEXAS
–
Ethereum
co-founder
Joseph
Lubin
is
taking
the
fight
to
the
U.S.
Securities
and
Exchange
Commission.
In
late
April,
his
firm,
Consensys,
decided
to
preemptively
sue
the
U.S.
securities
watchdog
after
receiving
what’s
known
as
a
Wells
notice
–
or
an
indication
that
the
agency
is
building
a
case
against
a
firm.
On
the
Mainstage
at
Consensus
2024
on
Wednesday,
the
longtime
crypto
advocate
gave
a
sense
of
what
Consensys
is
trying
to
get
out
of
its
lawsuit
filed
“in
the
great
state
of
Texas.”
Namely:
regulatory
clarity,
the
preservation
of
free
markets
in
crypto
and
a
resolution
that
open
source
developers
will
not
be
targeted.
“What
we’re
trying
to
achieve
is
the
freedom
to
innovate,”
Lubin
said
on
stage.
“We
have
been
doing
our
best
to
thread
the
needle
between
offering
access
to
applications
and
needing
to
be
a
regulated
financial
institution.
We’re
pretty
sure
we
got
it
right
and
continue
to
get
it
right,”
which
is
why
the
SEC’s
recent,
call
it
interest,
in
Ethereum
is
so
worrying.
Lubin
suggested
that
the
SEC
has
begun
to
target
the
biggest
players
in
Ethereum
like
decentralized
exchange
Uniswap,
the
nonprofit
Ethereum
Foundation
and
major
development
studio
Consensys
precisely
because
their
efforts
challenge
the
potential
authority
and
“vested
interests”
of
regulators
and
legislators.
“Ethereum
represents
an
existential
threat
to
the
weight
of
life
of
those
who
would
prefer
to
perpetuate
the
system
and
be
a
top
down
control,”
Lubin
said,
adding
later
that
crypto
is
already
changing
“the
structure
of
society.”
“We
need
some
sort
of
deliverance
from
top
down
command
and
control
because
it’s
not
working
as
well
as
it
needs
to,”
he
added.
At
the
same
time,
however,
Lubin
said
that
crypto
has
crossed
“the
chasm”
into
American
politics,
which
has
become
an
increasingly
popular
talking
point
among
speakers.
For
instance,
CEO
Tom
Farley
of
Bullish
(which
owns
CoinDesk)
and
New
York
Stock
Exchange
President
Lynn
Martin
agreed
on
stage
that
in
10
year’s
time
it’s
unlikely
crypto
remains
a
partisan
issue.
Likewise,
Lubin
noted
the
former
President
Trump’s
embrace
of
crypto
and
recent
judicial
wins
have
led
to
a
sea-change
in
how
it
is
being
evaluated
politically.
But
he
stressed
the
importance
of
talking
to
“all
parties
that
are
holding
power
currently,”
even
if
many
in
crypto
are
“more
interested
in
moving
beyond
the
current
political
constructs”
through
decentralized
tech.
“Most
of
the
people
who
are
empowered
by
the
technology
realize
that
decentralization
is
consistent
with
American
principles
like
free
market
capitalism
and
democracy,”
Lubin
said.