We previously reported on the pre-emptive lawsuit that Consensys Software Inc., a software developer whose business centers on the Ethereum blockchain network, brought against the United States Securities and Exchange Commission in April 2024 in federal court in Texas. The Complaint may be found here. Three of the four counts in the Complaint relate to Consensysâs ETH transactions (ETH is the native token for the Ethereum blockchain). The fourth count relates to Consensysâs two MetaMask software products:…
In two earlier posts, we reported about Consensys filing a pre-emptive lawsuit against the United States Securities and Exchange Commission seeking, among other things, a declaration that (i) Ether is not a security and that, accordingly, the SECâs investigation into Ether and Ethereum and any resulting enforcement actions exceed its regulatory authority; (ii) any enforcement action against Consensys premised on Ether being a security or Ether transactions being securities transactions would violate due process and…
Last December, the Commodity Futures Trading Commission (CFTC) issued  a public call for feedback to âbetter inform the Commissionâs understandingâ of the Ethereum network and the cryptocurrency ether. The CFTC said input would better inform the agency in the event that market participants submit proposals to list new cryptocurrency-based futures or derivatives products. The CFTC has already recognized the trading of Bitcoin-based derivatives. Speaking at the Yahoo! Finance All Markets Summit on Thursday October 10, and as reported by…