The SEC is finally suspending its investigation into Ethereum
The US Securities and Exchange Commission (SEC) is ending its investigation into whether Ethereum (ETH) is a security.
Via a post on X (Twitter) by Concensys, developer of Ethereum , said that the Securities and Exchange Commission's Enforcement Division has notified them of the end of their investigation into Ethereum 2.0.
This means that the SEC will not bring charges alleging that ETH sales are securities transactions. The company takes this turn of events as a major victory for Ethereum developers, technology providers and industry participants.
Consensys also said the SEC's decision came after the company sent a letter to the agency on June 7 asking whether it would end its investigation because the regulator approved spot ETH exchange-traded funds (ETFs) in May, which they say is based on the fact that ETH is a commodity.
READ MORE:
BRICS: Bitcoin Could Completely Change World Finance - IMFConsensys senior counsel Laura Brookover shared the answer of the SEC to the company, stating that the agency does not intend to recommend enforcement action.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin could rally regardless of what the Federal Reserve FOMC decides this week
Anticipating Bitcoin’s Unstable Market: Understanding Key Macro Factors
Decoding Key Macro Factors Behind the Anticipated Market Flux in Bitcoin Investing Arena
Bitcoin’s Slowdown Precedes Fed Verdict, Yet HYPE, AAVE, RNDR, FET Display Bullish Trends!
While Bitcoin Rests, Lesser-Known Cryptocurrencies HYPE, AAVE, RNDR, and FET Show Promising Growth Potential
Cursor Secures $900M, Valued at $9 Billion
Trending news
MoreCrypto prices
More
