With its lawsuit, Consensys aims to settle the question of whether staking turned ether into a security, and to hopefully put an end to what it calls the SEC’s “regulatory overreach.”
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
On Thursday, Consensys sued the U.S. Securities and Exchange Commission (SEC) in a Texas federal court, seeking to prevent an impending SEC action against its MetaMask wallet and to clarify that ether is not a security.
The complaint calls out the agency for what Consensys describes as “regulatory overreach,” challenges its notion that ETH is a security, and says the SEC has violated the Constitutional requirement of fair notice under the due process clause. It notes that for years, the SEC and its sister agency, the Commodity Futures Trading Commission, took the position that ETH is not a security.
The lawsuit also challenges the SEC’s recent focus on Ethereum's switch to proof of stake in 2022 as a basis for increased scrutiny, a stance Lubin deemed "preposterous."
Laura Brookover, Senior Counsel & Head of Litigation and Investigations at Consensys, joined Unchained to unpack the lawsuit and what it means for the future of Ethereum and overall crypto in the US.
Show highlights:
Thank you to our sponsors! iTrustCapital | Polkadot
Guest | Laura Brookover, Senior Counsel & Head of Litigation and Investigations at Consensys
Links |
The lawsuit:
Fortune: SEC sued over Ethereum, crypto firm asks court to state token is not a security
Consensys’s complaint
Bill Hughes’ thread on why Consensys sued the SEC
Consensys is suing the SEC to defend the Ethereum ecosystem
Hinman speech
CryptoLaw: The Hinman Speech Documents
Major questions doctrine
Unchained: Why the SEC vs. Ripple Order Is Now About 2 Things: Coinbase and Congress
Reuters: SEC argues Coinbase crypto case not barred by ‘major questions’ doctrine
Other SEC cases:
Coinbase
Unchained:
Why the SEC’s Case Against Coinbase Is So Significant for Crypto
Court Rejects Coinbase’s Bid to Dismiss SEC Charges Against It
Uniswap
Unchained:
Gary Gensler’s Case Against Uniswap: Does the SEC Even Stand a Chance?
SEC Puts DeFi in Its Sights With Potential Uniswap Suit
Uniswap Blog Post on the Wells notice
Marvin Ammori Thread on Wells notice
Ethereum Foundation
Unchained:
SEC Investigating Ethereum Foundation Regarding Proof-of-Stake Transition: Report
The Real Reason Why the SEC Might Be Going After Ethereum
Debt Box
Unchained: SEC Sanctioned for ‘Abuse of Power’ in Debt Box Lawsuit
Beba
DeFi Education Fund and Beba sue SEC over airdrop policies
Lejilex
Lawsuit document
-
Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
GEN C: Driving Innovation: Mercedes-Benz's Roadmap for Web3 and NFTs
COINDESK DAILY: Robinhood Shares Fall After Wells Notice From SEC; Crypto's Guard Against Hacks
MARKETS DAILY: Crypto Update | Bitcoin ETFs Are Still 'Wildly Successful': Kraken Head of Strategy
FIRST MOVER: Why MoonPay and PayPal Partnered to Expand Crypto Adoption in the U.S.
COINDESK DAILY: Coinbase's Blowout First Quarter; Could Hong Kong ETFs See $1B AUM by 2024 End?
UNCHAINED: Why EigenLayer Gave Away More Tokens After Widespread Criticism of Its Stakedrop
THE MINING POD: Its Name Was OP_CAT
MARKETS DAILY: CoinDesk Markets Week in Review
FIRST MOVER: How Crypto Solves Financial Problems in the Bronx
THE PROTOCOL: High Stakes | Intense Competition Among Layer Two Solutions
COINDESK DAILY: Binance Nigeria Money Laundering Trial Delayed; Fmr FTX Europe Head Pays $1.5M for Titanic Memento
MARKETS DAILY: Crypto Update | Is the Bull Market Over? And Why Stablecoins Aren't Hitting Centralized Exchanges?
FIRST MOVER: Why Casa's Co-Founder Wants ETF Providers to Diversify Custody
MONEY REIMAGINED: Decentralization in the Web | Building a Web of Trust
COINDESK DAILY: CZ's 'Good Guy' Reputation; Money Laundering Risks of Crypto
MARKETS DAILY: Crypto Update | Slowing Inflows of ETF Investments - the Evergreen Story of Crypto
Partner Content: Introducing the Stanford GSB Podcast 'If/Then.'
UNCHAINED: Bitcoin Layer 2s Aim to Attract Ethereum-Like Dapps. Will They Succeed?
COINDESK DAILY: Hong Kong Bitcoin and Ether ETFs Have Soft Debut; What Indonesia’s Election Means for Crypto
MARKETS DAILY: Crypto Update | Why Crypto Investors Should Watch for US Treasury's Refunding Announcement
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Sarah Westall - Business Game Changers
Børsen Morgenbriefing
Startitup podcasty
Wall Street Breakfast