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Consensys
@consensys
Today, Consensys filed a lawsuit against the SEC. The goal behind this is to ensure that Ethereum remains a vibrant and indispensable blockchain platform and to preserve access for the thousands of developers, market participants, and institutions who have a stake in the world’s second largest blockchain.
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Consensys
@consensys
We took this step for two very basic reasons: (1) the SEC should not be allowed to arbitrarily expand its jurisdiction to include regulating the future of the internet by wrongly labeling ETH a security;
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Consensys
@consensys
and (2) the SEC’s reckless approach is bringing chaos to developers, market participants, institutions, and nations who are building or already managing critical systems running on Ethereum.
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Consensys
@consensys
Ethereum isn't just about information being permissionless. It's about human ingenuity being permissionless. We encourage others who feel equally aggrieved by the SEC’s aggressive regulatory actions to make their voices heard.
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Consensys
@consensys
At Consensys, we believe that advancing adoption of blockchain platforms like Ethereum will help reshape and enhance how future generations will manage economic, financial, social, political, and technological systems, creating a more equitable, transparent and innovative world.
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Consensys
@consensys
Our mission is now under threat from an ideologically driven regulator – the SEC.
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Consensys
@consensys
We have time and time again witnessed the current SEC contradict itself with ever-changing views on the blockchain, consistently mischaracterizing this technology and what is built on it as a shallow and doomed investment scheme, rather than as the breakthrough technology it is.
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Consensys
@consensys
And it is time the industry stood up for itself. Our action today is intended to protect the Ethereum ecosystem as well as the entirety of the extended decentralized protocol ecosystem.
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