{"id":550021,"date":"2023-02-10T01:50:26","date_gmt":"2023-02-09T22:50:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-co-founder-joe-lubin-says-no-chance-eth-is-classed-as-security\/"},"modified":"2023-02-10T01:50:26","modified_gmt":"2023-02-09T22:50:26","slug":"ethereum-co-founder-joe-lubin-says-no-chance-eth-is-classed-as-security","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-co-founder-joe-lubin-says-no-chance-eth-is-classed-as-security\/","title":{"rendered":"# Ethereum co-founder Joe Lubin says no chance ETH is classed as security"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bc2002f538\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bc2002f538\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-co-founder-joe-lubin-says-no-chance-eth-is-classed-as-security\/#%E2%80%9D_Ethereum_co-founder_Joe_Lubin_says_no_chance_ETH_is_classed_as_security_%E2%80%9C\" >&#8221; Ethereum co-founder Joe Lubin says no chance ETH is classed as security &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_co-founder_Joe_Lubin_says_no_chance_ETH_is_classed_as_security_%E2%80%9C\"><\/span>&#8221; Ethereum co-founder Joe Lubin says no chance ETH is classed as security &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4bbf85c5>Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) won\u2019t be classified as a security in the United States. <\/p>\n<p>Cointelegraph spoke with Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, in Tel Aviv at the Web3 event, Building Blocks 23.<\/p>\n<p>Asked if ETH could be classed as a security in the U.S. after Ethereum\u2019s transition to a proof-of-stake (PoS) consensus model, Lubin said:<\/p>\n<blockquote><p>\u201cI think it&#8217;s as likely, and would have the same impact, as if Uber was made illegal.\u201d<\/p><\/blockquote>\n<p>\u201cThere would be a tremendous outcry from not just the crypto community but different politicians and certain regulators,\u201d he added.<\/p>\n<p>In September, Securities and Exchange Commission Chairman Gary Gensler suggested that the blockchain\u2019s transition to PoS might have brought ETH under the regulators\u2019 beat.<\/p>\n<p>Gensler believed staking coins gave \u201cthe investing public\u201d anticipation of \u201cprofits based on the efforts of others.\u201d<\/p>\n<p>Lubin said he was privy to discussions with the SEC and the Commodity Futures Trading Commission \u201cfor many years.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/e8f753c4-d393-4c1c-b68e-beb89af50828.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Joseph Lubin speaking with Cointelegraph at Building Blocks 23 in Tel Aviv, Israel in February.<\/em><\/figcaption><\/figure>\n<p>He said around five years ago the regulators were \u201cjust trying to wrap their heads around what tokens were.\u201d<\/p>\n<blockquote><p>\u201cThey thought back then that everything was a security. We \u2014 I think \u2014 helped them significantly understand lots of tokens are not securities, and then they went away and Gary and team now think almost everything&#8217;s a security.\u201d<\/p><\/blockquote>\n<p>Lubin, however, believes that ETH continues to be \u201csufficiently decentralized\u201d and pointed to its \u201cmany use cases that don\u2019t implicate it as a security.\u201d<\/p>\n<p>\u201cThere is no centralized set of promoters or builders that is specifically trying to raise the value of Ether and enrich investors,\u201d he added.<\/p>\n<blockquote><p>\u201cThere&#8217;s a court system in the United States of America that I think would be supportive of arguments that would be made that it is not.\u201d<\/p><\/blockquote>\n<p>Lubin said that regulators <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to be more focused on another aspect of Ethereum at the moment, noting that\u00a0people he knows close to the action in Washington D.C. say \u201cmost of the focus is on stablecoins right now.\u201d<\/p>\n<blockquote><p>\u201cEverybody&#8217;s talking about it, freaking out. Calling for things to be done.\u201d<\/p><\/blockquote>\n<p>In a Feb. 9 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread, Coinbase founder and CEO Brian Armstrong responded to \u201crumors\u201d that the SEC was thinking to ban retail consumers from staking crypto.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>CFTC head looks to new Congress for action on crypto regulation<\/em><\/strong><\/p>\n<p>\u201cStaking is not a security,\u201d he said, adding it would be a \u201cterrible path for the U.S.\u201d if a staking ban was passed noting it was \u201ca really important innovation in crypto.\u201d<\/p>\n<p>\u201cHopefully we can work together to publish clear rules for the industry, and come up with sensible solutions that protect consumers while preserving innovation,\u201d Armstrong said.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-co-founder-joe-lubin-says-no-chance-eth-is-classed-as-security\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum co-founder Joe Lubin says no chance ETH is classed as security &#8220; Ethereum co-founder and crypto entrepreneur Joseph Lubin is confident that Ether (ETH) won\u2019t be classified as a security in the United States. Cointelegraph spoke with Lubin, Ethereum co-founder and founder of blockchain tech firm ConsenSys, in Tel Aviv at the Web3&#8230;<\/p>\n","protected":false},"author":1,"featured_media":550022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/f7a80275-6127-4a6b-8a4a-a287264ca997.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,75422,75326,82528,74898,23147,70934,72287,67874],"class_list":["post-550021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-cftc","tag-ethereum-2-0","tag-joseph-lubin","tag-sec","tag-interview","tag-regulation","tag-security","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550021","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=550021"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/550021\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/550022"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=550021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=550021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=550021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}