ConsenSys founder: US regulators ‘neglected their duties’

Joe Lubin, founder of Consensys, said at an Ethereum community conference in Brussels on Wednesday that US regulators "neglected their duties" and that some senators and bank lobbying groups were able to "manipulate" and guide the SEC's encryption policy. Lubin also said that he and other participants were forced to deal with unclear legislation. He said: "For years, we have been operating under the cloud of regulatory uncertainty." Nevertheless, Lubin said he believed that regulators are making "real progress," in part because of the upcoming US election, with lawmakers now seeking new ways to win votes and raise funds for their campaigns.