SEC investigation dropped
Ethereum has achieved a major victory as the SEC has concluded its investigation into Ethereum 2.0, confirming that sales of ETH are not considered securities transactions.
The second-largest cryptocurrency by market capitalization, Ethereum, has received a significant win as the Enforcement Division of the U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Ethereum 2.0, according to blockchain firm Consensys.
Consensys stated in a recent post that the SEC’s decision means that they will not be pursuing charges related to sales of ETH as securities transactions.
This development follows a letter sent to the SEC by Consensys on Jun. 7, seeking confirmation that the approval of spot Ethereum exchange-traded funds (ETFs) as commodities would lead to the closure of the Ethereum 2.0 investigation.
Despite this positive outcome, Consensys and the SEC are still engaged in the battle for regulatory clarity. Consensys is now aiming for a declaration that offering user interface software such as MetaMask Swaps and Staking does not violate securities laws.
The closure of the investigation signifies a significant advancement for Ethereum and the entire industry, which has been facing regulatory uncertainties and enforcement actions recently. Following this news, the price of ETH surged by 3% and is currently trading at $3,555, as reported by CoinMarketCap.
For more information, Gary Gensler predicts that Ethereum ETFs will likely be approved by the end of summer.
