Early-stage applications to launch Ethereum exchange-traded funds (ETFs) in the US are “completed,” according to Consensys CEO Joseph Lubin. Lubin stated that the 19b-4 filings submitted by BlackRock will be approved by the US Securities and Exchange Commission (SEC). However, making them available to the public may be a longer process. Lubin stated that representatives of Donald Trump's presidential campaign have also been meeting with cryptocurrency ecosystem participants for more than two months. He added that the SEC is under strong pressure to adopt a more neutral stance with the US presidential election approaching.
Consensys announced in April that it was taking legal action against the SEC. Lubin described it as an unspecified internal move to reclassify Ether as a security. Lubin said the SEC's stance toward cryptocurrencies, and Ethereum in particular, leads him to believe it intends to regulate the technology and its developers. However, Consensys is "all in" to continue the fight against the SEC and is prepared to spend tens of millions of dollars on its legal fight.#blockchain#cryptocurrency #SEC
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