Despite the SEC seemingly having a full plate, lawyers consulted doubted that the agency would slow down enforcement in new areas of the crypto market.
Pushing ahead in DeFi is one possibility. At the extreme end of this would be the commission doubling down on Gensler’s suggestion that Ether, the second-largest crypto by market cap, has become a security since it switched over to proof-of-stake.
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“The claim that would launch a thousand warships…would be that Ethereum is a security,” says Hughes, whose firm, ConsenSys, was founded by Ethereum co-founder Joseph Lubin and is dedicated to building on the same blockchain. “I’m imagining the scene from Avengers: Endgame where everyone came out to fight this battle, and you can imagine who Thanos is.”
Source: The SEC’s Next Key Courtroom Battles With the Crypto Industry – Unchained Crypto
