Joseph Lubin: “ConsenSys maybe has the Best Legal Team in Crypto Industry.”

 

ConsenSys founder and Ethereum co-founder Joseph Lubin says that Ethereum and Bitcoin didn’t have to comply with regulation like today’s new projects. He expressed his opinion in an interview with Forkast.

Lubin stated that new projects are required to comply with regulations, mentioning the effect of the application of security law on the crypto industry. He noted that in order to attract investors, every project is required to guarantee the price growth of its token.

What’s more, taking into account the fact that in general the appreciation is obtained through the work of developers, by definition, a sold asset is a security in view of the fact that as Lubin noted: “And so securities law is then implicated & now you cannot sell a utility token as it is not a utility token, it is a tokenized security. You cannot sell it broadly and equitably.”

Speaking about ConsenSys, a blockchain software technology company, Lubin noted that at ConsenSys they have a strong legal team, mentioning that perhaps it’s the best in the crypto industry. He said: “And we are very comfortable that we can sell utility tokens. We wouldn’t sell them in massive quantities to speculators,” he added. “We’d sell them in situations where we might require proof of use before they could be traded between different counter-parties.”

 

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