Ethereum's Joe Lubin Defends SEC Amid Ripple Lawsuit
As the U.S. Securities and Exchange Commission is facing a barrage of criticism for its scattershot approach to regulating cryptocurrencies, the much-feared regulatory agency has found a supporter within the industry: ConsenSys CEO Joseph Lubin.In a recent interview with The Information, Lubin, who is known as one of Ethereum's co-founders, claims that SEC Chair Gary Gensler's demands for greater authority in regulating crypto are justified.The head of Ethereum's development studio says that the agency has a lot of "legit arguments":
[The SEC] may have legit arguments in the cases that are being discussed right now.
While Ripple, the company that was sued by the SEC in December over its unregistered securities sales, accuses the agency of stifling innovation in the U.S., Lubin does not think that this is the case:
I don't believe the SEC is trying to squelch innovation.