Ethereum co-founder Joseph Lubin has accused the U.S. Securities and Exchange Commission (SEC) of deliberately stifling innovation in the cryptocurrency industry. Speaking at FT Live’s Crypto and Digital Asset summit, Lubin, who is also the CEO of Consensys, criticized the SEC for reclassifying Ether as a security without clear communication. He suggested that the SEC's enforcement actions are designed to create fear and uncertainty, potentially forcing companies offshore. Lubin's company, Consensys, is currently suing the SEC for more clarity on this issue. He also highlighted the upcoming deadline for the SEC to decide on Ether spot exchange-traded funds (ETFs) as a potential reason for the regulator's renewed enforcement action against Ethereum.