Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»BLOCKCHAIN NEWS»Consensys sues SEC over Ethereum crackdown.
BLOCKCHAIN NEWS

Consensys sues SEC over Ethereum crackdown.

By Crypto FlexsApril 26, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Consensys sues SEC over Ethereum crackdown.
Share
Facebook Twitter LinkedIn Pinterest Email

MetaMask developer Consensys has asked a Texas federal court to declare that Ethereum is not a security, pending a backlash against the SEC’s sweeping enforcement action.

Consensys has filed a lawsuit against the U.S. SEC, challenging the agency’s unlawful attempt to restructure its constitutional powers to include oversight of Ethereum (ETH), the second-largest decentralized network of cryptocurrencies.

According to the blockchain developer, the SEC has adopted a “reckless approach” that mislabeled ETH as a security and would stifle innovation if left unchecked.

“We have now seen the SEC contradict its ever-changing view of blockchain time and time again, consistently mischaracterizing this technology and what it is built on as a shallow, doomed investment scheme rather than a groundbreaking technology.”

Consensis SEC Litigation Announcement

Today, ConsenSys filed a lawsuit against the Securities and Exchange Commission.

The goal behind this is to ensure that Ethereum remains a vibrant and essential blockchain platform and remains accessible to numerous developers, market participants, and institutions.

— Consensys (@Consensys) April 25, 2024

The 34-page legal document released on April 25 argued that the SEC’s enforcement could undo the work accomplished by Congress on stablecoin policy and promote technological advancement outside U.S. borders.

Consensys said this “aggressive SEC regulatory overreach” extends beyond U.S. capital markets and is counterproductive to the watchdog’s original mission.

ConsenSys fights back

The MetaMask founder’s complaint comes as the SEC is seeking an additional $158 million to step up its litigation efforts against the cryptocurrency industry and keep the “West” digital asset ecosystem at gunpoint.

Moreover, the lawsuit is in response to a Wells notice issued against Consensys earlier this month, suggesting that MetaMask could face charges of operating as an unregistered broker-dealer entity.

The industry is also coming together to fight investigations into the Ethereum Foundation, a non-profit organization dedicated to improving the ETH ecosystem. As crypto.news reported last month, several companies and corporations have received unsolicited inquiries from anonymous state authorities.

After being charged with federal violations, stakeholders such as Coinbase and Kraken are fighting Wall Street securities regulators in court. Industry advocates like Hester Peirce and opposing SEC members also argue that the agency has not provided clear rules for the nascent cryptocurrency market.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

British trail EU, US encryption regulation, think tank warning

June 22, 2025

ZKJ Crypto Price Pumps 20%: Dead Cat Bounces?

June 17, 2025
Add A Comment

Comments are closed.

Recent Posts

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025
Most Popular

Introduction to the world of cryptocurrency

December 2, 2023

Ethereum developers work out bugs and plan Pectra upgrades

January 26, 2025

What is an oasis? Gaming blockchain powered by Ubisoft and Sega

January 21, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.