Consensys Sues SEC To Protect Ethereum, Claims ETH Not A Security

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ConsenSys has taken on the U.S. Securities and Exchange Commission (SEC) by filing a lawsuit in Texas federal court. The case focuses on the classification of Ethereum’s Ether as a security. ConsenSys argues this designation could harm the entire Ethereum network, posing significant risks to its functionality and innovation. This lawsuit not only challenges regulatory overreach but also aims to protect the foundational areas of the Ethereum ecosystem.

Software development firm ConsenSys has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC) and its five commissioners, accusing them of attempting to regulate Ether (ETH) as a security.