Leaders in the cryptocurrency industry and US regulators have little good to say about each other these days. Coinbase CEO Brian Amstrong has slammed the Securities and Exchange Commission for “some really sketchy behavior,” comparing the industry to the Wild West—or a casino.
However, Joseph Lubin, 57, who co-founded the Ethereum blockchain, which powers ether, bitcoin’s main rival, and runs the 500-person startup ConsenSys, is more sympathetic to the financial regulators who are threatening to patrol crypto’s frontier lands.
In an interview from his Brooklyn home, he said Gensler is under a lot of pressure and may deserve what he’s requested from Congress: more authority to govern the industry.
“[The SEC] may have legit arguments in the cases that are being discussed right now,” he said. “I don’t believe the SEC is trying to squelch innovation.”