The co-founder of Ethereum, Joseph Lubin, said “clear heads will prevail” as the U.S. Securities and Exchange Commission continues to dispute with crypto firms in court over whether crypto tokens are considered securities. “I anticipate that, with previous technologies like the internet, the web and cryptography, clear heads will prevail,” Lubin told CNBC’s “Capital Connection” on Thursday. “America will see that decentralized protocols, blockchain, cryptocurrency are aligned with the philosophies of the U.S. And I think much of the rest of the world will follow suit,” said Lubin, who is also the CEO of blockchain technology company ConsenSys. Crypto firms such as Binance, Coinbase and Ripple are fighting lawsuits with the SEC, which has accused them of law violations. The SEC sued Ripple and its co-founders in 2020 of violating securities laws by selling its native cryptocurrency XRP without first registering it with the SEC. Meanwhile, the SEC accused Coinbase of operating an unregistered exchange and broker in June. In the same month, Binance was charged for several securities law violations.
Ethereum co-founder says ‘clear heads will prevail’ in the SEC’s legal battles with crypto firms
