Ethereum co-founder: The SEC is deliberately hindering innovation, and cryptocurrency technology threatens the existing financial landscape in the U.S

ChainCatcher news, according to Cointelegraph, Ethereum co-founder Joseph Lubin stated at the FT Cryptocurrency and Digital Assets Summit that the U.S. Securities and Exchange Commission (SEC) is deliberately hindering innovation, which threatens the existing financial landscape in the United States.

Joseph Lubin mentioned that the SEC seems to have reclassified Ethereum as a security, and they are taking a series of strategic enforcement actions instead of engaging in open discussions and clear rule-making. "I think they are concerned that so much attention and capital will flow into our ecosystem because our ecosystem is making tremendous progress in scalability and usability."