Consensys Laura Brookover, the head of litigation for the company, stated that they would continue to bring lawsuits against the SEC. “battle” Clarity in regulatory matters is crucial “far from over.”
The aforementioned is a June 21 Brookover told CNBC in an interview that, despite the SEC ending its investigation into Ethereum 2.0, it had failed to provide regulatory clarity about Ethereum’s classification. She said that her firm would continue to push for greater clarity in regards to digital assets.
Brookover said two SEC probes are still underway to find out if Consensys has violated the securities laws by using its swapping and staking functions. MetaMask wallet.
Consensys received a Wells Notice from the regulator indicating its intention to enforce both of these issues.
Brookover says:
“Our current plans are … to continue fighting so that we can get the relief that we brought the lawsuit to seek.”
Consensys wants to get a ruling that MetaMask’s MetaMask and MetaMask’s MetaMask do not contravene securities law as it was previously stated in its April lawsuit.
It is not enough to end the first case
SEC closed one investigation by a June 18 letter. Brookover stated First investigation “really focused on the Ethereum protocol itself” As well as whether ETH constitutes a security, we will discuss Ethereum 2.0 and its merge with the Network, along with the transition from staking to the new network.
Brookover says the SEC letter about ending the investigation only confirms the agency’s decision not to charge Consensys and doesn’t provide the clarity Consensys was seeking through its legal action.
Brookover says:
“It disclaimed us drawing any conclusion from it, such as … that [the SEC] found that Ether was a commodity and not a security.”
She told me that the investigation was over “doesn’t go far enough” In providing transparency as to why the agency closed the investigation. Also, it is unclear what the significance of the SEC’s investigation and other enforcement actions is.
Brookover speculated about the future. “mounting pressure” Congress and other members of the industry caused the SEC investigation to be ended but stated that the SEC has not given an explanation.
The SEC has approved the spot Ethereum ETF rules. May 23 It is a good idea to use a bilingual translator “part and parcel of whatever is going on inside the agency” Regarding its stance towards ETH.
Brookover criticized the SEC’s overall position, saying:
“Regulation by enforcement is completely backwards. There should be clarity so that companies … can know for sure whether what they’re engaging in is acceptable under the law …”
The SEC is currently waiting for the oral arguments in enforcement proceedings to inform companies of its position. The approach was described as “No way to regulate the crypto sector” and asked the SEC for a more cooperative approach.
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Source: cryptoslate.com