Ethereum Foundation ‘Extremely Comfortable’ ETH Is Not A Security, Co-Founder Lubin Says

Joseph Lubin, the co-founder of the Ethereum Foundation, spoke out at the Collision tech conference in New Orleans yesterday. The event takes place amid reports that federal regulators are now probing ETH to determine whether or not it should be classified as a security. Lubin riposted that the Foundation is "absolutely unconcerned about the current discussions,” Business news platform The Street reported May 1."We spent a tremendous amount of time with lawyers in the U.S. and in other countries, and are extremely comfortable that it is not a security; it never was a security… many regulators that matter understand what Ethereum is.”Yesterday, the Wall Street Journal reported that ETH is now in a regulatory “gray zone,” citing sources familiar with the matter. The WSJ’s sources raised particular concern over ETH’s first distribution in 2014, when the foundation raised over 31,000 BTC (then worth $18.3 mln), in one of the crypto…

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