Consensys is reportedly suing the US Securities and Exchange Commission (SEC) in an attempt to defend the Ethereum ecosystem.
Ethereum developer Consensys sued the U.S. Securities and Exchange Commission Thursday to pre-empt an expected enforcement action and force the agency to clarify its position on whether the ether cryptocurrency is a security.
On Thursday, Consensys — the company behind MetaMask — filed a lawsuit against the Securities and Exchange Commission and its Chair, Gary Gensler.
Steven Nerayoff accuses SEC of collusion, calling for transparency amid legal battle over 'security' label.
The heads of crypto industry titans like Coinbase and Uniswap are rallying behind Consensys in its fight to get the SEC to concede Ethereum is not a security.
On April 25, Consensys initiated legal proceedings against the SEC, accusing the regulatory body of overreaching its authority by attempting to regulate Ethereum.
In a bold move, former Ethereum advisor Steven Nerayoff has reaffirmed that Ethereum (ETH) is indeed a security. In a series of scathing posts on social media platform X, Nerayoff accused Ethereum of being centralized since its inception.
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