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Ethereum has achieved a significant milestone as the SEC closes its investigation into Ethereum 2.0, confirming that sales of ETH are not considered securities transactions.
Ethereum Triumphs in SEC Investigation
Ethereum, the second-largest cryptocurrency by market capitalization, has made a notable advance. The Enforcement Division of the U.S. Securities and Exchange Commission (SEC) announced the closure of its investigation into Ethereum 2.0. This was disclosed by blockchain firm Consensys.
Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.
The SEC’s decision implies that the agency will not bring charges alleging that sales of ETH are securities transactions, according to Consensys.
Consensys stated, “The closing of the Ethereum investigation is significant, but it’s not a cure-all for the many blockchain developers, technology providers, and industry participants who have faced challenges under the SEC’s aggressive crypto enforcement regime.”
Implications for the Crypto Industry
This development follows a June 7 letter from Consensys to the SEC, requesting confirmation that the recent approval of spot Ethereum exchange-traded funds (ETFs), assuming ETH to be a commodity, would result in the closure of the Ethereum 2.0 investigation.
Even with this positive outcome, the struggle for regulatory clarity between Consensys and the SEC continues. The blockchain firm is seeking a declaration that offering user interface software such as MetaMask Swaps and Staking doesn’t violate securities laws.
The closure of the investigation marks a significant step forward for Ethereum and the entire industry, which has been dealing with regulatory uncertainties and enforcement actions recently. Following the news, the price of ETH surged 3% and is now trading at $3,555.
For more updates and in-depth analysis on cryptocurrencies, investing, and finance, stay tuned to Global Crypto News.
