Ethereum co-founder “ETH is a product”… A direct rebuttal to the remarks of the US SEC Chairman.

2023/09/19 15:55
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Ethereum (ETH) co-founder Joseph Lubin reiterated his view that Ethereum is a commodity in an interview with CNBC., a media outlet specializing in cryptocurrency, noted that Rubin directly contradicted U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler's statement that all cryptocurrency tokens except Bitcoin (BTC) are securities. did.

Rubin said, “The statement that cryptocurrencies except Bitcoin are tokens suggests that Chairman Gensler feels that many tokens are securities. However, Chairman Gensler said, “We need to prove that cryptocurrencies are securities,” and “We cannot just claim that all cryptocurrencies except Bitcoin are securities.”

This is not the first time Rubin has refuted Chairman Gensler's statement that cryptocurrencies are considered securities.

In an interview with CNBC last March, he claimed, “I am convinced that Ethereum is a commodity.”

Meanwhile, in this interview, Rubin emphasized the view that Ethereum is a commodity and also expressed the view that if the SEC continues to enforce strict regulations on the cryptocurrency industry, many companies will leave the United States.

Regarding the negative impact of the SEC's pressure on the industry, he said, "Whether you look at existing technologies such as the Internet, the web, or cryptography, logically consistent technologies will always prevail." You will find that it is the same as the philosophy of. “I think a lot of countries have now taken away some of the leadership from the United States in logically consistent technology.”

He continued, “The United States has a lot of influence on the world through various intermediary institutions, including financial intermediaries. Decentralized protocol technology scales and eliminates intermediaries in many ways. “America is also all about free markets, capitalism, and freedom of the press,” he added.

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