Ethereum co-founder and ConsenSys founder Joseph Lubin is confident that Ether (ETH) will not be classified as a security in the United States following Ethereum’s transition to a proof-of-stake (PoS) consensus model. He believes it would have the same impact as making Uber illegal, and he has been privy to discussions with the Securities and Exchange Commission and the Commodity Futures Trading Commission.
Brian Armstrong responded to rumors that the SEC was considering banning retail consumers from staking crypto, noting that it would be a “terrible path for the U.S.” if a staking ban was passed. Lubin believes that ETH is sufficiently decentralized, with no centralized group of promoters or builders attempting to increase the value of Ether and enrich themselves.
