SEC Closes Investigation into Ethereum, ConsenSys Declares Major Win

In a major development for the Ethereum ecosystem, ConsenSys has announced that the Enforcement Division of the U.S. SEC has ended its investigation into Ethereum 2.0.

Now that the investigation is closed, the SEC will not bring charges alleging that sales of ETH are securities transactions.

Key points:

• The SEC’s Enforcement Division has notified ConsenSys that it is closing its investigation into Ethereum 2.0.
• The decision follows a letter sent by ConsenSys on June 7, requesting confirmation that the SEC would close its Ethereum 2.0 investigation.
• ConsenSys argued that the May ETH ETF approvals should lead to the closure of the investigation.

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SEC’s Ethereum decision comes after ConsenSys’s letter

The decision by the SEC to close its investigation into Ethereum 2.0 comes on the heels of a letter sent by ConsenSys on June 7. In the letter, the company requested confirmation that the SEC would close its Ethereum 2.0 investigation.

The company cited the May ETH ETF approvals as evidence that ETH is considered a commodity.  

ConsenSys also stated that it is continuing its fight through a lawsuit against the SEC. In the lawsuit, the company seeks a declaration that offering the user interface software MetaMask Swaps and Staking does not violate securities laws.

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ConsenSys believes that such a declaration is important for aiding innovation and growth in the industry.