Ethereum

<ul><li>Consensys has initiated a lawsuit against the SEC, challenging its authority to regulate Ether (ETH) as a security, alleging regulatory overreach.</li><li>The lawsuit highlights the severe implications for the Ethereum network if ETH is classified as a security, potentially halting its use in the U.S.</li><li>Consensys contends MetaMask&#39;s functionality is crucial for web3, arguing against its classification as a securities broker by the SEC.</li></ul>Consensys, the firm behind the widely-used crypto wallet metamask, has taken a significant step by <a href="https://x.com/Consensys/status/1783562212667453837" rel="noopener noreferrer nofollow">filing a lawsuit</a> against the United States Securities and Exchange Commission (SEC) and its five commissioners. This legal action, initiated on April 25 at the U.S. District Court for the Northern District of Texas, alleges regulatory overreach by the SEC.The lawsuit specifically accuses the SEC of attempting to regulate Ether (ETH) as a security, a move that could have profound implications for the Ethereum network and its stakeholders. In a <a href="https://consensys.io/blog/consensys-suing-sec-to-defend-ethereum-ecosystem" rel="noopener noreferrer nofollow">blog post</a> on April 25, the firm wrote:“Our action today is intended to protect the Ethereum ecosystem as well as the entirety of the extended decentralized protocol ecosystem.”The complaint lodged by Consensys paints a stark picture of the potential disruption that could befall the Ethereum network and the company&#39;s operations. It references previous statements by SEC Chair Gary Gensler in 2018 that did not classify ETH as security, contrasting them with the SEC&#39;s current stance.<a href="https://cryptotale.org/consensys-takes-sec-to-court-on-eth-security-classification/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Consensys takes SEC to Court on ETH Security Classification

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