Blockchain Association CEO Kristin Smith expressed strong support for Consensys in their legal battle against the Securities and Exchange Commission (SEC). Smith stated, "Blockchain Association – and the entire digital asset ecosystem – stands shoulder to shoulder with Consensys as they take the fight to the SEC, challenging the Commission’s ever-expanding overreach and aggression."

Smith emphasized the significance of Consensys' lawsuit in defending the Ethereum ecosystem, highlighting its role as a platform for numerous innovations, including stablecoins. She pointed out that Ethereum and similar programmable blockchains represent the next generation of the internet, but the SEC's actions indicate a desire to restrict their development in the United States.

Regarding Ethereum's status, Smith noted, "Ether, the underlying asset, is also currently assumed to be a commodity by market participants given statements by both regulators and lawmakers." She highlighted the SEC's acknowledgment of Ethereum's commodity status through the approval of securities products backed by Ethereum futures contracts regulated by the Commodity Futures Trading Commission (CFTC).

Smith clarified the limits of the SEC's jurisdiction, stating, "The SEC’s jurisdiction is limited to securities and has no authority to regulate commodities." She emphasized the broader implications of the legal battle, stating, "This critical battle impacts all aspects of the digital asset industry. We fully support Consensys in their decision to file preemptive legal action to stop the SEC’s illegal onslaught targeting emerging technologies such as public blockchains."