The recent approval of Ethereum ETFs by the U.S. SEC on May 23 has stirred the crypto market, initially fueling investor optimism. However, despite this milestone, Ethereum’s price experienced a drop, suggesting a cautious market response. Meanwhile, amid these developments, blockchain technology firm ConsenSys has voiced its concerns over the SEC’s regulatory practices, even as they welcome the Ethereum ETF approval.
ConsenSys Slams SEC’s Regulatory Tactics
ConsenSys has expressed mixed feelings regarding the SEC’s latest decision. While the approval of Spot Ether ETFs is seen as a positive step, the company criticizes the SEC’s inconsistent regulatory approach.
In a recent statement on the X platform, ConsenSys highlighted that this last-minute approval exemplifies the SEC’s “troublesome ad hoc approach to digital assets,”. Notably, they argue this move unfairly targets the cryptocurrency market, while hindering innovation in the digital asset space.
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