Thread by @Consensys

Today, Consensys filed a lawsuit against the Securities and Exchange Commission.

The goal behind this is to ensure that Ethereum remains a vibrant and indispensable blockchain platform and to preserve access for the countless developers, market participants, and institutions who have a stake in the world’s second largest blockchain.

#ETHforAll

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We took this step for two very basic reasons:

(1) the SEC should not be allowed to arbitrarily expand its jurisdiction to include regulating the future of the internet by wrongly labeling ETH a security; and

(2) the SEC’s reckless approach is bringing chaos to developers, market participants, institutions, and nations who are building or already managing critical systems running on Ethereum.

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Ethereum isn't just about information being permissionless. It's about human ingenuity being permissionless.

We encourage others who feel equally aggrieved by the SEC’s aggressive regulatory actions to make their voices heard.

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At Consensys, we believe that advancing adoption of blockchain platforms like Ethereum will help reshape and enhance how future generations will manage economic, financial, social, political, and technological systems, creating a more equitable, transparent and innovative world.

Our mission is now under threat from an ideologically driven regulator – the SEC.

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We have time and time again witnessed the current SEC contradict itself with ever-changing views on the blockchain, consistently mischaracterizing this technology and what is built on it as a shallow and doomed investment scheme, rather than as the breakthrough technology it is.

And it is time the industry stood up for itself. Our action today is intended to protect the Ethereum ecosystem as well as the entirety of the extended decentralized protocol ecosystem.

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For more information, please see our CEO @ethereumjoseph’s remarks on today’s litigation and visit .

#ETHforAll

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