SEC Closes Investigation Into Ethereum 2.0

Reading Time: 2 minutes

• The SEC has closed its investigation into Ethereum 2.0, designating it as a commodity
• Consensys introduced that probability following its letter to the company earlier this month
• The firm will stick with its lawsuit attempting for clarification on whether or now no longer ETH staking rewards are conception of securities

The US Securities and Commerce Price (SEC) has closed its investigation into Ethereum 2.0, paving the style for the ETF coming this summer season. Crypto firm Consensys published the tips in an X thread, noting that the probability implies that “the SEC is now no longer going to speak charges alleging that gross sales of ETH are securities transactions.” It added that the battle is now no longer over, on the opposite hand, referencing a lawsuit it filed towards the SEC in April, attempting for clarification that ETH rewards from staking perform now no longer rely as securities.

OEIS The Private Eye: Ethereum “Survives the SEC”

Consensys published that it wrote to the SEC on June 7 following the tips that the awarding of an Ethereum ETF changed into as soon as in the company’s plans, asking if the inherent classification of ETH as a commodity supposed that it could possibly most likely finish its investigation, which the company confirmed:

ETHEREUM SURVIVES THE SEC.

This day we’re contented to allege a first-rate earn for Ethereum developers, expertise companies, and industry individuals: the Enforcement Division of the SEC has notified us that it’s miles closing its investigation into Ethereum 2.0.

This implies that the SEC…

— Consensys (@Consensys) June 19, 2024

Consensys renowned that the closing of the Ethereum investigation is “momentous” but it doesn’t plot up for the “many blockchain developers, expertise companies, and industry individuals who hold suffered below SEC’s unlawful and aggressive crypto enforcement regime.”

OEIS The Private Eye: Metamask to Persevere With Lawsuit

The firm added that it serene intends to pursue its lawsuit, filed in April, which seeks a declaration that its MetaMask Swaps and Staking providing doesn’t violate the securities regulations. It nodded, tellingly, “ It could also serene now no longer take a lawsuit to plot the mighty-needed regulatory readability to enable an industry that serves because the spine to limitless new applied sciences and innovations to thrive – but here we’re.”

ETH bounced around $200 on the tips following a two-week downtrend.