ConsenSys CEO: States Will Start an “Arms Race” in the Field of Crypto Regulation

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ConsenSys founder and Ethereum co-creator Joseph Lubin has said cryptocurrencies have proven to be an effective weapon against Russia.

According to him, the war in Ukraine has predetermined the further integration of digital assets into the global economy:

“This is yet another moment for our industry to achieve mass adoption of cryptocurrencies. Now it will become a matter of national security. These events are a point of no return for the industry, as they make it clear that our technology is powerful and unstoppable.”

He believes that in the future, cryptocurrencies “will be used by many states, regardless of who says or does what.” Lubin has also made a comparison between the efforts of the authorities to regulate the cryptocurrency industry to an arms race:

“Our country and many others will have to learn how to use this powerful tool, this weapon. Nobody likes guns, but you need to be able to handle them in the same way as your neighbors.”