Ethereum has achieved a “major win” because the SEC closes its investigation into Ethereum 2.0, confirming that gross sales of ETH aren’t thought-about securities transactions.
Ethereum, the second-largest crypto by market capitalization, has scored a major victory because the Enforcement Division of the U.S. Securities and Trade Fee (SEC) introduced the closure of its investigation into Ethereum 2.0, blockchain agency Consensys stated in an X publish.
The SEC’s choice implies that the company “will not bring charges alleging that sales of ETH are securities transactions,” Consensys explains.
“The closing of the Ethereum investigation is momentous, but it’s not a cure-all for the many blockchain developers, technology providers, and industry participants who have suffered under SEC’s unlawful and aggressive crypto enforcement regime.”
Consensys
The newest growth comes after a Jun. 7 letter to the SEC from Consensys, which requested affirmation that the latest approval of spot Ethereum exchange-traded funds (ETFs), assuming ETH to be a commodity, would end result within the closure of the Ethereum 2.0 investigation.
Regardless of the optimistic end result, the battle for regulatory readability between Consensys and the SEC continues because the blockchain agency is in search of a declaration that providing person interface software program similar to MetaMask Swaps and Staking doesn’t violate securities legal guidelines.
The closure of the investigation marks a major step ahead for Ethereum and the entire trade, which has been grappling with regulatory uncertainties and enforcement actions recently. Following the information, ETH worth soared 3% and is now buying and selling at $3,555, in keeping with information from CoinMarketCap.
