Ethereum co-founder Joseph Lubin is absolutely sure that ETH is not recognized as a security in the US, despite the ongoing investigation by regulators regarding the staking of the coin.
During the Building Block 23 conference in Tel Aviv, Joseph Lubin was asked if Ethereum’s transition to the Proof-of-Stake algorithm could result in regulators recognizing the second cryptocurrency as a security.
The Ethereum co-founder and CEO of ConsenSys said he has been in discussions with the SEC and CFTC for many years. And, according to him, about five years ago, regulators were finally able to understand what “these tokens of yours” are:
Lubin himself emphasizes that Ethereum remains a “significantly decentralized” cryptocurrency and has many uses that are not suitable for securities.
Earlier, Coinbase CEO Brian Armstrong said that US regulators could ban retail investors from staking, as it looks like a securities offering. He believes that this will be a strong blow to the cryptocurrency industry.