The U.S. Securities and Exchange Commission (SEC) is set to end its investigation into whether Ethereum (ETH) qualifies as a security.
Through a post on Twitter by ConsenSys, the enforcement division of the Securities and Exchange Commission has informed them of the termination of their investigation into Ethereum 2.0.
This means that the SEC will not be pursuing charges that ETH sales constitute 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 U.S. Securities and Exchange Commission.
Today, we are pleased to announce a significant victory for Ethereum developers, technology providers, and industry participants: the enforcement division of the U.S. Securities and Exchange Commission has notified us that it will end its investigation into Ethereum 2.0.
This means that the U.S. Securities and Exchange Commission…
— ConsenSys (@Consensys)
June 19, 2024
ConsenSys also stated that the SEC’s decision was made after the company wrote to the agency on July X, inquiring if the investigation would be terminated, as the regulatory agency had approved a May ETF for spot ETH trading, citing the fact that ETH is a commodity.
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ConsenSys senior advisor Laura Brookover shared
The SEC has informed the company that it does not intend to recommend enforcement action.
