Ethereum under fire from SEC over alleged violations

<img width="562" height="338" src="https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="Crypto" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E.jpg 880w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-730×438.jpg 730w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-230×138.jpg 230w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-380×228.jpg 380w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-88×53.jpg 88w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2021/06/Crypto-B-L-E-500×301.jpg 500w" sizes="(max-width: 562px) 100vw, 562px" /><p>In a press release this week, Co-founder of <a href="https://www.leaprate.com/cryptocurrency/ethereum/bbva-switzerland-expands-its-crypto-custody-service-with-ethereum/" target="_blank" rel="noopener">Ethereum</a>, Joseph Lubin suggested that clear heads and clarity of thinking are the best way to proceed through the investigation. This comes after the cryptocurrency has been hit by waves of regulatory boards demanding the tightening and transparency of crypto commodities, tokens and intermediaries.</p>
<p>Lubin stated:</p>
<blockquote><p>America will see that decentralized protocols, blockchain, and cryptocurrency are aligned with the philosophies of the U.S. And I think much of the rest of the world will follow suit.</p></blockquote>
<p>In March, Lubin told CNBC:</p>
<blockquote><p>People buy barrels of oil with the expectation of profit &#8211; I stand by my conviction that ether is a commodity.</p></blockquote>
<p>Ethereum is not the only crypto company to face duress; Binance, Ripple, and Coinbase are also under the watchful eye of the SEC for violating security laws by selling native cryptocurrency XRP without registering it with the SEC.</p>
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<p>However, many crypto leaders have warned the SEC that their laws and regulations lack clear instructions. CEO of Binance, Changpeng Zhao indicated that the company would remove itself from U.S. users if the SEC does not implement better-outlined laws. This would damage the U.S. reputation as the global leader in crypto-related movement.</p>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/ethereum-under-fire-from-sec-over-alleged-violations/">Ethereum under fire from SEC over alleged violations</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>