The US Securities and Exchange Commission (SEC) is set to end its investigation into whether Ethereum (ETH) is a security.
According to a post by Consensys on Twitter, Consensys, the company behind Ethereum, has stated that the SEC’s enforcement division has informed them of the termination of its investigation into Ethereum 2.0.
This means that the SEC will not be bringing charges against ETH for securities trading. The company sees this as a significant victory for Ethereum developers, technology providers, and industry participants.
Ethereum has survived under the regulation of the US Securities and Exchange Commission.
Today, we are pleased to announce a major victory for Ethereum developers, technology providers, and industry participants: the US Securities and Exchange Commission’s enforcement division has notified us that it will be ending its investigation into Ethereum 2.0.
This means that the US Securities and Exchange Commission…
— Consensys (@Consensys)
June 19, 2024
Consensys also stated that the SEC’s decision was made following the company’s letter to the agency on July XNUMX, inquiring about the possible termination of the investigation, as regulated entities received formal approval for May’s spot ETH exchange-traded funds (ETFs), based on the fact that ETH is considered a commodity.
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Consensys Senior Advisor Laura Brookover shared the news that the SEC has informed the company that it does not intend to recommend enforcement action.
