In the latest analysis of the market, we discussed the possibility of a lawsuit being filed against the Securities and Exchange Commission (SEC) for an Ethereum Exchange-Traded Fund (ETF), similar to last year’s case involving the Grayscale Bitcoin Trust (GBTC). Just a few hours later, Consensys, a prominent supporter of Ethereum, took the initiative and filed a lawsuit against the agency. Although there was no significant impact on the price of Ethereum, the shift from a defensive to an offensive stance is seen as a positive development.
The SEC now finds itself facing a lawsuit in response to the aggressive actions taken by its Chairman, Gary Gensler, against cryptocurrency companies such as Coinbase and Uniswap. Consensys, in its detailed 34-page filing, asserts that the SEC’s attempts to exert control over Ethereum are unlawful. It further argues that this encroachment poses a serious threat to the future of blockchain technology.
The complaint filed by Consensys contains several key points that are worth highlighting:
Disclaimer:
This article is not intended to provide investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research.
