Web3 is transforming the internet. It’s a way to empower people with new kinds of personal, economic, political agency, and to build communities. Web3 ignites a new digital economy, serving as a vibrant, global platform where the entrepreneurs (we call builders) thrive and visionary ideas are born every day. From decentralized finance, digital art, to self-sovereign identity and new forms of governance, every project, every innovation, is born from a belief in a better future.
Yet, despite the vision and innovation, web3 is currently under attack. Reckless crypto regulation is currently threatening to unplug the US from this frontier of innovation.
Now is the time to protect web3 and all the people and innovation behind it. We must support the community of builders shaping this next era of the internet and its promise of a more inclusive, transparent, and decentralized future. Join us as we celebrate the people and the projects that make this technology worth fighting for. Today, we’re asking you to be part of the movement: Web3 for All
Why protecting web3 matters
In April 2024, Consensys announced a lawsuit against the SEC seeking to end an inappropriate investigation into the Ethereum ecosystem and to get clarity that blockchain software developers like Consensys were not brokers under the U.S. securities laws. The SEC elected to end its investigation into Ethereum, which was a huge win for the entire blockchain space, but proceeded with bringing an enforcement action in which it asserted that MetaMask was an unlicensed broker of unregistered securities.
This not only demonstrates a lack of understanding by the SEC about what a crypto wallet is and does, but also reveals a serious and systemic threat to blockchain software development in the U.S. This action is an example of a policy choice to go after the technological innovation of web3 builders. And it is the web3 builders that are here for the technology, using the technology, that are most at risk from this misguided use of enforcement powers.
Since the onset of this litigation, the entire Consensys team has been fighting for our right to innovate, and not just for our company, but for the entire crypto community around the world.
Join us as as we stand up for web3 builders in the US and the world
Over the next several weeks we will be using Consensys channels to share stories of the builders behind web3 in the Builder Stories series. If you caught the first series, you already know they provide an indepth look at the people and innovative projects at the heart of web3.
This new season features a diverse set of builders – some veterans and some emerging – in an effort to show policymakers the people, talent, and technological innovation at stake if the SEC’s overreach evolves into regulation.
Check out SheFi Founder, Maggie Love’s story below and look out for a new builder story each week you can watch and share.