The SEC has officially closed its investigation into Ethereum 2.0, providing a major victory for the blockchain community. ConsenSys, a top Ethereum development firm, announced the news, revealing that the SEC’s Enforcement Division has decided not to pursue charges against ETH sales as securities transactions.
This decision comes after ConsenSys sent a letter to the SEC on June 7, seeking clarification following the approval of ETH Exchange-Traded Funds (ETFs) in May. The ruling confirms that Ethereum is considered a commodity, not a security, marking a significant milestone for the cryptocurrency industry.
Blockchain researcher Collin Brown and other enthusiasts celebrated the news, with Brown expressing confidence that Ripple (XRP) will also be vindicated by history. The crypto community, long under the scrutiny of the SEC, welcomed the decision as a step in the right direction.
Despite the positive outcome, ConsenSys continues its legal battle for regulatory clarity on MetaMask Swaps and Staking. The company emphasizes the importance of establishing clear regulations to foster innovation in the blockchain sector without the need for lawsuits.
The market reacted positively to the news, with ETH’s price rising to $3,567.10, a 3.48% increase from the previous day. The bullish trend reflects strong market confidence following the SEC’s ruling. Additionally, Bloomberg ETF analyst Eric Balchunas predicts that Ethereum ETFs could start trading as early as July 2, further boosting investor sentiment in the crypto market.
Overall, the closure of the Ethereum 2.0 investigation by the SEC marks a significant win for developers and industry participants, paving the way for continued growth and innovation in the cryptocurrency space.
