Ethereum
SEC ends investigation into Consensys, won’t sue over Ethereum 2.0
The price of ether (ETH) rose after Consensys received letters from the US Securities and Exchange Commission (SEC) indicating that the regulator had ended its investigation into the tech incubator and would not recommend enforcement action against it.
The SEC told Consensys, whose products include the MetaMask wallet, that it would not take enforcement action in two letters sent to its law firms on Tuesday. In a blog postConsensys said the SEC is “closing its investigation into Ethereum 2.0.”
The letters had the subject line “Re: In the Matter of Ethereum 2.0 (C-08950),” but did not explicitly mention the blockchain associated with the second-largest cryptocurrency by market capitalization.
“We have concluded the investigation into the above-mentioned matter,” a letter said. “Based on the information we have to date, we do not intend to recommend any enforcement action by the Commission against your client, Consensys Software Inc.”
The letter states that while it announces the conclusion of an investigation, this should not be interpreted to mean that there will never be enforcement action.
“The Commission advises its staff that, in cases where such action appears appropriate, it may inform a person under investigation that their formal investigation has been closed. Any such action by staff will be purely discretionary on his part for the reasons mentioned above, even if such notice is given, it should in no way be construed to indicate that the party has been exonerated or that no action can ultimately result from the investigation carried out. by staff on this particular matter,” the letter states, quoting a Wells. Explanatory notice on the SEC website.
Ether rose as much as 2.6% after a Publication of Consensys on X, TradingView data shows. It is up about 3% over the last 24 hours, according to data from CoinGecko. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, added 1.2%.
CORRECTION (June 19, 09:27 UTC): Corrects spelling of Consensys in title.