Ethereum

2024

Gary

Ethereum has achieved a “major win” as the SEC closes its investigation into Ethereum 2.0, confirming that sales of ETH are not considered securities transactions.
<a href="https://crypto.news/tag/ethereum/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a>, the second-largest crypto by market capitalization, has scored a significant victory as the Enforcement Division of the U.S. Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>) announced the closure of its investigation into Ethereum 2.0, blockchain firm Consensys <a href="https://x.com/Consensys/status/1803230653120659641" target="_blank" rel="noopener noreferrer nofollow">said in an X post</a>.
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 ETHEREUM SURVIVES THE SEC. 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. This means that the SEC…— Consensys (@Consensys) <a href="https://twitter.com/Consensys/status/1803230653120659641?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 19, 2024</a>
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The SEC’s decision means that the agency “will not bring charges alleging that sales of <a href="https://crypto.news/price/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH</a> are securities transactions,” Consensys explains.
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 “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
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You might also like: <a href="https://crypto.news/ethereum-price-teeters-on-the-edge-will-the-spot-eth-etf-approval-trigger-a-massive-rally/" rel="noopener noreferrer nofollow"> Ethereum price teeters on the edge: will the spot ETH ETF approval trigger a massive rally? </a>
The latest development comes after a Jun. 7 letter to the SEC from Consensys, which requested confirmation that the recent <a href="https://crypto.news/sec-greenlights-spot-ether-etfs-but-ether-price-shows-little-movement/" target="_blank" rel="noopener noreferrer nofollow">approval</a> of spot Ethereum exchange-traded funds (<a href="https://crypto.news/tag/ethereum-etf/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a>), assuming ETH to be a commodity, would result in the closure of the Ethereum 2.0 investigation.
Despite the positive outcome, the battle for regulatory clarity between Consensys and the SEC continues as the blockchain firm <a href="https://crypto.news/consensys-sues-sec-over-ethereum-crackdown/" target="_blank" rel="noopener noreferrer nofollow">is seeking</a> 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 whole industry, which has been grappling with regulatory uncertainties and enforcement actions lately. Following the news, ETH price soared 3% and is now trading at $3,555, according to data from CoinMarketCap.
Read more: <a href="https://crypto.news/gary-gensler-ethereum-etfs-likely-approved-by-end-of-summer/" rel="noopener noreferrer nofollow"> Gary Gensler: Ethereum ETFs likely approved by end of summer </a>

Ethereum secures ‘major win’ as SEC drops investigation

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