Consensys Bashes SEC’s Regulatory Approach Despite ETH ETF Approval

The post Consensys Bashes SEC’s Regulatory Approach Despite ETH ETF Approval appeared first on Coinpedia Fintech News

The ETH ETF approval on May 23rd has made headlines fueling investor optimism. However, despite the approval, ETH saw a price drop, suggesting a cautious market response. Moreover, Consensys has criticized the SEC’s inconsistent regulatory approach. It states that the last-minute approval demonstrates the SEC’s ‘troublesome ad-hoc approach to digital assets’. It also added that no other industry faces such deliberate regulatory scrutiny. Notably, the SEC ETH ETF approval indicates the SEC’s acknowledgment of Ethereum as a commodity, which contradicts its previous stance.