Ethereum emerges victorious over SEC investigation, clears Ethereum 2.0
In a significant win for Ethereum developers, technology providers, and industry participants, the US Securities and Exchange Commission (SEC) has decided to close its investigation into Ethereum 2.0. Consensys, a key player in the blockchain industry, shared the news on June 18, revealing that the SEC will not pursue charges claiming that ETH sales are securities transactions.
The decision comes after Consensys sent a letter to the SEC on June 7, requesting confirmation of the approvals of spot Ethereum exchange-traded funds (ETFs). Following the approval of Forms 19b-4 by eight securities issuers on May 23, Consensys argued that the SEC should end its investigation into Ethereum 2.0, considering the ETH cryptocurrency as a commodity.
While the closure of the Ethereum investigation is a significant development, it does not solve all the challenges faced by developers, technology providers, and industry participants affected by the SEC’s strict crypto enforcement actions.
At the time of writing, the price of Ethereum stood at US$3,542.78, marking a 4.4% increase in the last 24 hours.
Please note that the opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.
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