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.
The US Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0, Consensys announced on Wednesday.
Consensys, a leading Ethereum development company, disclosed earlier this year that it had received a Wells Notice from the SEC regarding the classification of Ether (ETH). This prompted Consensys to file a preemptive lawsuit against the SEC to prevent the agency from pursuing any enforcement action related to ETH’s status as a security.
However, Consensys stated that the closure of the SEC's investigation into Ethereum 2.0 does not fully resolve the matter, and Consensys is still seeking broader clarity from the SEC on how regulations apply to features like MetaMask Swaps and Staking.
“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,” Consensys announced.
"This means that the SEC has decided not to pursue any enforcement action related to the classification of ETH 2 staking rewards or ETH 2 itself as securities. We received this news on April 20, and we are sharing it now with the community to ensure everyone has the facts."
Consensys added that the closure 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.”
The news of the SEC's closure of its investigation into Ethereum 2.0 had a positive impact on cryptocurrency prices, with ETH showing a notable increase. According to CoinMarketCap data, ETH climbed from its Tuesday low of around $3,380 to reach $3,527 at the time of writing.
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