A crypto sector at the top – Since the end of the previous bull run, the ecosystem of cryptocurrencies was marked by many events e.g. Terra (LUNA) drop, FTX drop or even USDC depeg. However, some actors, such as Joseph Lubinclaim that the strength of the cryptocurrency ecosystem “has never been stronger” than today.
A booming industry, despite the headwinds
In an interview with CNBC, Joseph Lubinco-founder ofEthereum (ETH), shared his thoughts on the state of the cryptocurrency ecosystem. He said that despite some headwinds, micro-economic and financial, the crypto ecosystem is doing well:
“Developers are joining our ecosystem to essentially build an alternative economy, and they’re not leaving. Speculators come and go, but development has never been better. »
Indeed, according to a study conducted by Electric Capital at the beginning of the year, the number of developers involved in the crypto ecosystem kept growing. Ethereum, Polkadot and Cosmos are leading the way.
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Cryptocurrency regulation and the role of regulators
Lubin also raised the subject of regulation cryptocurrencies, including repressive actions of the Securities and Exchange Commission (DRY) American.
He believes that greater clarity and more explicit guidelines would benefit the industry. He pointed out that the industry suffers from the confusion between the faction “cryptocurrency” and faction “tech crypto”.
Lubin believes that regulation should focus on faction “cryptocurrency”. This includes emissions from tokens considered as securities. For its part, the faction “tech crypto” consists ofinnovators which should not be regulated in the same way.
Is Ether a security (security) ?
Of course, given the recent information shared by the CFTC who deems Ethereum to be a commoditiesthe interview turned to the question of whether ETH is a security or a commodities.
Lubin responded to claims made by the New York Attorney General in her lawsuit against the exchange platform KuCoin who sees ETH as a security. He stated that “ anyone can say anything, but that doesn’t make it true ».
Thus, he is convinced that Ether is unlikely to be considered a security, concurring with the CFTC’s opinion. However, it calls for a greater clarity on the part of regulators, in particular via a distinction between the various players in the sector to allow for healthier development.
These recent CFTC statements were made as part of the lawsuit filed in Changpeng “ CZ » Zhaothe founder of the Binance exchange platform.
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