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Communications of the ACM

ACM Opinion

SEC Isn't Hurting Crypto Innovation, Says Industry Leader

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Ethereum co-founder and Consensys CEO Joseph Lubin

"[The SEC] may have legit arguments in the cases that are being discussed right now. I don't believe the SEC is trying to squelch innovation." -Joe Lubin

Crypto industry leaders and U.S. regulators have few kind words to say about each other these days: Coinbase CEO Brian Amstrong has slammed the Securities and Exchange Commission (SEC) for "some really sketchy behavior" while SEC Chair Gary Gensler has likened the industry to the Wild West.

But Joseph Lubin, who co-founded the Ethereum blockchain behind ether and runs the startup ConsenSys, is a bit more charitable toward the financial regulators who threaten to patrol crypto's frontier lands. In an interview, Lubin said he thinks Gensler is under a lot of pressure and may deserve what he's asked Congress for: greater authority to govern the industry.

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