Consensys takes ‘Ethereum (ETH) is not a security’ matter to court

In a fresh move, Consenys, a blockchain software technology company, has taken the first step in bringing clarity on Ethereum’s status as ‘not a security’. The blockchain company, founded by Ethereum’s co-founder, Joseph Lubin, has sued the United States Securities and Exchange Commission and its five commissioners.

While the CFTC continues to stand its ground on the matter, the same cannot be said about the SEC. Over the past few months, the SEC has backtracked on its position. Moreover, the commission has stated to“The SEC’s land grab also violates core principles of due process and fair notice. Essential to due process is the “fundamental principle . . . that laws which regulate persons or entities must give fair notice of conduct that is forbidden or required.

Source: News Formal (newsformal.com)

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