Ethereum is for Everyone

This blog post is dedicated to every builder in the Ethereum ecosystem.

Today Linea’s founding member, Consensys, took an important step towards preserving access to ether, and by extension the Ethereum blockchain, and filed litigation against the U.S. Securities and Exchange Commission (SEC).

The SEC should not be allowed to arbitrarily expand its jurisdiction in an attempt to include its regulatory purview over a technology, which is what Ethereum is at its core. The impact of such unlawful regulation by the SEC would limit access and utility to every builder and user of Ethereum today.

This is why Consensys took this step, to show the world:

  • The SEC has no authority—nor should it—to regulate technology.

  • The SEC only has jurisdiction over securities. Ether is not and should not be treated as a security.

  • Ether is a commodity. For that reason and many more, applications like MetaMask that people around the globe rely upon to access and use the Ethereum blockchain are not securities intermediaries or brokers.

At its core, Consensys’ case intends to hold the SEC accountable to the basic fact that it possesses no jurisdiction to regulate ether, software built on Ethereum, or the Ethereum blockchain in general.

We cannot and should not allow government overreach and arbitrariness to impede innovation and deprive builders and users from Ethereum’s ability to improve security, traceability, transparency, and trust in the systems that underpin our digital lives.

Consensys’ actions this week intend to protect the entire Ethereum ecosystem from overzealous interference of their work in web3. Because Ethereum isn't just about information being permissionless. It's about human ingenuity being permissionless.

Ethereum is for everyone. Do you feel the same?

To support the Ethereum community in making its voice heard, we’re calling on you to join the movement. Sign up for future updates about how you can contribute to protecting the Ethereum ecosystem and learn more.

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