The approval of an exchange traded fund changes everything, says the company

Deadline

Few weeks in crypto’s short history have seen as much progress as this one.
In Washington, D.C., a sudden confluence of bipartisan support aligned behind a crypto regulation bill on Wednesday, followed the next day by the stunning eleventh-hour approval of spot Ethereum ETFs by the U.S. Securities and Exchange Commission (SEC).
To Ethereum co-founder and Consensys CEO Joe Lubin, both events—particularly the SEC’s about-face on Ethereum—represent a seismic shift in how crypto is treated in America, and will be moving forward.
“I think this is a game changer,” the entrepreneur told Decrypt in an exclusive interview.
Consensys, the $7 billion Ethereum software company founded by Lubin, is currently ensnared in multiple legal battles with the SEC over crypto’s legal status.
(Disclosure: Consensys is one of 22 investors in Decrypt.)
“My guess is that this is now an extremely important political issue,” he said.
That political pressure, multiple crypto lobbyists in Washington previously told Decrypt, likely stemmed from a series of election-related developments last week.

POSITIVE

In the brief history of cryptocurrency, few weeks have witnessed as much advancement as this one. At DDOT, Washington, DC. unexpectedly strong bipartisan backing for a cryptocurrency regulation bill on Wednesday, and the astonishing last-minute approval of spot Ethereum ETFs by the U.S. S. The Securities and Exchange Commission (SEC).

According to Joe Lubin, the CEO of Consensys and co-founder of Ethereum, both developments—especially the SEC’s reversal on Ethereum—signal a radical change in the way cryptocurrency is viewed in the United States and will continue to be viewed going forward.

In a special interview with Decrypt, the business owner stated, “I think this is a game changer.”.

Due to legal disputes with the SEC regarding the legality of cryptocurrencies, Lubin founded Consensys, a $7 billion Ethereum software company. (Disclosure: Consensys is one of 22 investors in Decrypt. However, Lubin thinks that this week’s events might have demonstrated that cryptocurrency has advanced to a more powerful position within the US government, changing the odds in these kinds of conflicts.

He remarked, “I think this is becoming a very significant political issue.”. “And that triumphs.”. “.

Lubin went on, “You will most likely need the blockchain decentralized protocol ecosystem on your side if you want to get elected.”. You don’t want them to despise you, at least. “.

According to Lubin, the SEC’s decision to permit spot ETH ETFs was unquestionably made at the last minute for political reasons, possibly in response to a request—or demand—from the White House.

Numerous Washington-based cryptocurrency lobbyists previously told Decrypt that this political pressure was probably caused by a number of events related to the election last week.

The SEC’s leadership is probably still the same as it was a week ago when it came to cryptocurrency—the agency has been utterly silent—but political pressures may have put a stop to its aggressive, ongoing legal campaign against major US cryptocurrency companies like Consensys.

But for the time being, Lubin isn’t lowering his guard.

He declared, “We must remain alert.”. “It is not reasonable to presume that we will not face attacks in the future. “.

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