The following statement is attributed to Blockchain Association CEO Kristin Smith following the SEC’s lawsuit against Consensys:

“Today’s SEC lawsuit against Consensys is more than an attack on one company – it’s a direct shot at the more than 50 million users of crypto in the United States. Chair Gensler’s SEC continues to operate indiscriminately – and today’s lawsuit is another example of the SEC’s regulatory overreach that is driving the domestic digital asset industry offshore. It is disappointing to see yet another example of the SEC failing to fulfill its mandate, waste tax dollars, and harm software developers and entrepreneurs.

“Blockchain Association stands with Consensys – and all of our members – who continue to fight SEC regulatory overreach in the courts to protect and defend the future of our industry and the tens of millions of crypto users across the country.”