Consensys, a significant player in blockchain and Web3 software, recently addressed concerns from the United States Securities and Exchange Commission (SEC) regarding Ethereum (CRYPTO:ETH).

The SEC had raised questions about the potential for fraud and manipulation within Ethereum's proof-of-stake system, especially concerning spot Ether exchange-traded funds (ETFs).

Consensys responded by highlighting Ethereum's prominent features, such as its large developer community and its operation on a fully transparent and public blockchain.

In a detailed comment letter to the SEC, Consensys argued that the concerns about fraud and manipulation in relation to Ethereum and specifically the spot Ether ETFs are unfounded.

This dialogue follows the SEC's efforts to understand and possibly regulate the intricacies of blockchain technologies and their financial products.