Ethereum Co-Founder: Crypto Ecosystem Never Been Better or Stronger

Ethereum Co-Founder Optimistic About Crypto Ecosystem

• Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.”
• He believes more clarity from regulators would be helpful for the industry.
• He discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC.

Strength of Crypto Ecosystem

Ethereum co-founder Joseph Lubin believes that the strength of the crypto ecosystem “has never been better or stronger” due to increasing growth in conferences, development and use cases. He noted that bitcoin is seen as sound money while ether is seen as ultrasound money. The rising prices of both cryptocurrencies have also been attributed to increased anticipation that interest rates will rise less aggressively in the future.

Regulation and Enforcement Actions

Lubin argued that more clarity from regulators would be beneficial for the industry, noting that it has suffered by having two major factions lumped into one: money-crypto and tech-crypto factions. He stated that money cryptos should be regulated while tech cryptos are just technologists building infrastructure for traditional and decentralized economies. In addition, he commented on aggressive enforcement actions by the U.S Securities and Exchange Commission (SEC).

Is Ether a Security?

Lubin did not directly answer whether ether (ETH) is a security but instead spoke about how it does not fit into any existing asset class classification system as it provides utility beyond financial gain which makes it difficult to classify under securities laws.

Conclusion

Overall, Ethereum co-founder Joseph Lubin states that cryptocurrency has grown significantly over recent years with more developers joining its network, leading him to believe that its strength has never been better or stronger than it currently is. While he acknowledges some headwinds in terms of banking issues and regulations, he calls for more clarity from regulators so they can distinguish between money crypto and tech crypto factions in order to establish proper regulations for each respectably.