Impact of shifting SEC policy on ETH ‘yet to be seen’ — Consensys SC

Bill Hughes, Consensys’ senior counsel and director of global regulatory matters, spoke to Cointelegraph at Consensus 2024 in Texas on the status of its lawsuit against the SEC.

The political landscape might influence how the United States Securities and Exchange Commission (SEC) handles crypto-related policies in the lead-up to the 2024 election, according to Consensys’ senior counsel.

Speaking to Cointelegraph at the Consensus conference in Austin on May 29, Consensys senior counsel and director of global regulatory matters Bill Hughes said it was still unclear whether the changing political and regulatory landscape in the U.S. could affect the firm’s lawsuit against the SEC over Ether (ETH). In the last 30 days, lawmakers have advanced legislation calling for regulatory clarity at the SEC. The commission has approved the spot for Ether exchange-traded funds for the first time, and digital assets have been part of both major party presidential candidates’ actions before the election.

“What impact this has on the investigations [the SEC has] open, their theories as to what is or is not a securities offering in their view, has yet to be seen,” said Hughes, referring to the approval of spot Ether ETFs. “We think it’s a fundamentally positive development and a development that shouldn’t have been controversial whatsoever.”

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