Ethereum scores “major victory” as SEC drops investigation

Ethereum has scored a “major victory” as the SEC closes its investigation into Ethereum 2.0, confirming that ETH sales do not qualify as securities transactions.

Ethereumthe second-largest crypto by market capitalization, scored a significant victory as the enforcement division of the United States Securities and Exchange Commission (SECOND) announced the closure of its investigation into Ethereum 2.0, blockchain company Consensys said in a post.

The SEC’s decision means that the agency “will not bring charges alleging that sales of ETH are securities transactions,” explains Consensys.

“Closing the Ethereum investigation is momentous, but it is not a panacea for the many blockchain developers, technology providers, and industry players who have suffered from Ethereum’s illegal and aggressive crypto enforcement regime. the SEC.”

Consensys

The latest development follows a June 7 letter to the SEC from Consensys, which sought confirmation that the recent approval of Ethereum spot exchange traded funds (AND F), assuming ETH is a commodity, would result in the closure of the Ethereum 2.0 investigation.

Despite the positive outcome, the battle for regulatory clarity between Consensys and the SEC continues as the blockchain company look for a statement that offering user interface software such as MetaMask Swaps and Staking does not violate securities laws.

The closure of the investigation marks an important step forward for Ethereum and the entire industry, which has recently been grappling with regulatory uncertainties and enforcement actions. Following this news, the price of ETH rose 3% and is now trading at $3,555, according to data from CoinMarketCap.

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