Consensys

Consensys Pursues Regulatory Clarity to Ensure the U.S. Remains at the Forefront of the Web3 Revolution

Consensys is continuing to push for a productive regulatory framework for the blockchain industry. Without it, an entire sector that serves as the backbone of countless new innovations in the United States cannot do what it is designed to do: drive society forward.

An effective regulatory framework will:

  • Provide pathways for legitimate participation in the web3 economy
  • Promote competitiveness, growth, and investment
  • Ensure the U.S. remains a global leader in technological innovation

Consensys litigated against the SEC in April 2024 to defend the U.S. web3 ecosystem and its software developers from the agency’s overzealous regulatory overreach. Meaningful progress has been made, but the fight is far from over. The country is at a critical juncture where policymakers must act swiftly to ensure the protection of U.S. economic development and democratic interests.

This is not a partisan discussion. It is an American discussion, about how the government must engage industry to ensure the U.S. remains at the forefront of the web3 revolution, just as its open approach to the early Internet allowed it to become a global leader.

Bipartisan Support for American Web3 Leadership Continues to Grow, Placing it Firmly on the Political Agenda

Transformative Collaboration
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“When we talk about digital assets and crypto, this will be driven by a diverse group of people from across the political spectrum.”

Tom Emmer, Majority Whip of US House of Representatives (R - MN)
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“I think it is a bipartisan issue and I think we all agree that we want a very positive ecosystem for growth and for investment, but also for consumer protection, safety and soundness, and competitiveness internationally.”

Kirsten Gillibrand, US Senator (D - NY)
“What we really need is an open-minded, fostering, nurturing environment so that we can explore the different dimensions of the technology and the implications of what it will do... and it will be very transformative of society...”

“What we really need is an open-minded, fostering, nurturing environment so that we can explore the different dimensions of the technology and the implications of what it will do... and it will be very transformative of society...”

JOE LUBIN, CO-FOUNDER OF ETHEREUM AND FOUNDER/CEO OF CONSENSYS

New Study Reveals Importance of Pro-Crypto Policy

In October 2024, Consensys and global market research and data analytics group HarrisX released a study highlighting the evolving views of U.S. voters on blockchain and crypto.

Bottom line:

  • The crypto electorate is growing and engaged: 19 of U.S. voters own crypto, and 92% of crypto owners plan to vote. 
  • No party has a monopoly over crypto voters: 85% of crypto voters are expecting candidates to adopt pro-crypto positions, and 40% of voters would cross party lines if a candidate expresses pro-crypto views.
  • Supporting pro-crypto policies is a key consideration for voters: 50% of voters say it is important for a candidate to support pro-crypto policies, including 85% of crypto voters.
  • The U.S. government isn’t doing enough to grow the cryptocurrency industry: a view held by 44% of voters.

Consensys brought litigation against the SEC in April 2024, fighting hard  to secure  a productive regulatory framework for crypto and web3. The industry has seen some notable wins since then, including the ETH ETF approval and the end of the Ethereum 2.0 investigation. However, the SEC has fought back by bringing a legal case against Consensys in New York. We will not stop advocating for our industry and the regulatory clarity that we and our peers so right deserve.

Recent press

Get in touch with our press team. All press inquiries can be addressed to this email: [email protected]

Fox Business Thumbnail

Fox Business

SEC commissioner confesses its crypto approach has fueled 'disaster for the whole industry'

Thumb: Crypto owners could swing the election; Trump embraces them, Harris is silent

The Hill

Crypto owners could swing the election; Trump embraces them, Harris is silent

Thumbnail: Kamala Harris knows crypto voters are up for grabs: New polls confirm

COINTELEGRAPH

Kamala Harris knows crypto voters are up for grabs: New polls confirm

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COINTELEGRAPH

The SEC's war against Ethereum and Consensys isn’t over

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Fortune

Ethereum wins a major battle, but its war with the SEC is far from over

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Bloomberg

Consensys CEO Joseph Lubin Says SEC Closes Ethereum Inquiry

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Reuters

Crypto firm Consensys says US regulator has closed inquiry into Ethereum 2.0

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Fortune

SEC sued over Ethereum, crypto firm asks court to state token is not a security

article_ft_The SEC’s power grab on digital assets threatens US innovation

Financial Times

The SEC’s power grab on digital assets threatens US innovation

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Dallas Morning News

Opinion: Ethereum, and blockchain technologies, are threatened by Washington regulators

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Financial Times

Joe Lubin speaks at the @FT Crypto and Digital Assets Summit

New court filings show SEC, Chair Gensler believed ethereum was a security for at least a yearNew court filings show SEC, Chair Gensler believed ethereum was a security for at least a year

Fox Business

New court filings show SEC, Chair Gensler believed ethereum was a security for at least a year

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Decrypt

SEC Has Secretly Considered Ethereum a Security Since 2023, Says Consensys in Unredacted Lawsuit

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Axios

Consensys files preemptive lawsuit against SEC over Ethereum

Consensys Sues to Block SEC From Deeming Ether a Security

Wall Street Journal

Consensys Sues to Block SEC From Deeming Ether a Security

Article-Bloomberg Consensys Sues SEC to Fend Off Oversight of Ethereum

Bloomberg

Crypto Firm Sues SEC to Fend Off Oversight of Ethereum

Crypto firm Consensys sues US SEC over Ethereum regulation

Reuters

Crypto firm Consensys sues US SEC over Ethereum regulation

Article-Cointelegraph Thumb

Cointelegraph

Consensys files lawsuit against SEC and commissioners over Ether regulation

Consensys’s Lawsuit Against The SEC: Will It End Gensler's ‘Unlawful Power Grab’?

Unchained

Consensys’s Lawsuit Against The SEC: Will It End Gensler's ‘Unlawful Power Grab’?

Industry Voices

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“A major unlock for the Ethereum ecosystem as we enter a new regulatory regime for crypto. Congratulations to @ethereumJoseph and the @Consensys team.”

– Christopher Perkins, President of CoinFund

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“Blockchain Association – and the entire digital asset ecosystem – stands shoulder to shoulder with Consensys as they take the fight to the SEC, challenging the Commission’s ever-expanding overreach and aggression... This critical battle impacts all aspects of the digital asset industry. We fully support Consensys in their decision to file preemptive legal action to stop the SEC’s illegal onslaught targeting emerging technologies such as public blockchains."

- The Blockchain Association

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"We stand with Texas based member company @Consensys for challenging the SEC against their un-American & unlawful approach towards the entire digital asset industry.

We FIRMLY support @Consensys & we’re proud to stand behind those who fight for our industry."

– Texas Blockchain Council

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"Sue the Exchange Commission

Thanks @ethereumJoseph and @Consensys for fighting back and defending our industry

We're tired of the overreach and harassment"

- Hayden Adams, Founder and CEO of Uniswap

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"I know ETH is a commodity. You know ETH is a commodity. The CFTC knows ETH is a commodity. It's time for the SEC to admit that it still knows ETH is a commodity too. No more games. Thank you to @Consensys for standing up against the SEC's unlawful expansion of authority."

– Paul Grewal, Chief Legal Officer of Coinbase

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"This Consensys lawsuit is a really big deal. They’re positioning themselves to challenge the SEC’s authority to regulate crypto.”

Brian L. Frye, Law Professor, University of Kentucky

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"The evidence clearly shows that ethereum is a decentralized commodity, not a security," "ETH’s status as a commodity has now been recognized in a variety of circumstances, including the CFTC's regulation of ETH futures, public statements by commission officials, rulings by federal courts, and now, hopefully, this ETF."

– Matthew Sigel, Head of Digital Asset Research, VanEck

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"We are proud to stand with @TXblockchain_ Council member company @Consensys as they push back against the SEC's attack on peer-to-peer blockchain tech and self-custody. What the SEC has done over the past several years is un-American and is pushing innovation overseas."

– Lee Bratcher, President and Founder of the Texas Blockchain Council

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“Your inconsistencies on this issue, sir, have set this country back. We could not have had a more historically destructive or lawless Chairman of the SEC.”

– Tom Emmer, Majority Whip of the US House of Representatives

Stay Connected on this Issue

Crypto Regulations

Learn more

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Builder Stories are Back to Represent Web3 Innovation when it Matters Most

September 17, 2024

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Consensys Partners with Axios to Convene Crypto Policy Event in Washington, D.C.

September 20, 2024

ETH ETF SEC LETTER

Our comment letter to the SEC on ETH ETF approval: “We urge the Commission to recognize the advanced safeguards inherent in Ethereum’s design”

March 29, 2024

Consensys-Symbol-Blue Thumbnail

Consensys Addresses the SEC to highlight flaws in its proposal to categorize blockchain protocols as securities exchanges

June 14, 2023

Money Crypto Versus Tech Crypto

Money Crypto Versus Tech Crypto

November 7, 2022

REVEALED! The SEC's Big Plan to Classify Ethereum as a Security & Block the ETH Spot ETF!

REVEALED! The SEC's Big Plan to Classify Ethereum as a Security & Block the ETH Spot ETF!

April 19, 2024

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