June 28 (Cointime) - Joseph Lubin, the founder of Consensys, has stated in a recent CNBC interview that Ethereum (ETH) should be classified as a commodity. Lubin cited previous statements by regulatory bodies, including the SEC and CFTC, as evidence for his claim.

Although Gary Gensler, the chairman of the SEC, has acknowledged Bitcoin as a commodity, he has not yet done so for Ether. Lubin also discussed the progress made in the cryptocurrency industry over the past year and the value of cleaning up centralized finance.

However, his statements do not have any official impact on the classification of Ether, which is still pending recognition from the SEC.