Ethereum celebrates a major victory as the SEC concludes its investigation into Ethereum 2.0, confirming that the sale of ETH is not considered a securities transaction. Consensys, a blockchain firm, revealed this exciting news in a recent post.
The Enforcement Division of the U.S. Securities and Exchange Commission (SEC) has decided not to pursue charges related to the sales of ETH as securities transactions, as explained by Consensys. This development follows Consensys’ letter to the SEC on Jun. 7, requesting clarity on whether the approval of spot Ethereum exchange-traded funds (ETFs) would bring an end to the Ethereum 2.0 investigation.
Despite this positive outcome, Consensys is still engaged in a battle with the SEC for further regulatory clarity. The blockchain firm is pushing for a declaration that offering user interface software like MetaMask Swaps and Staking does not violate securities laws.
The closure of the investigation is a significant milestone for Ethereum and the entire industry, which has been facing uncertainty and enforcement actions in recent times. In response to this news, the price of ETH has surged by 3% and is currently trading at $3,555, according to data from CoinMarketCap.
Looking ahead, Gary Gensler, the chair of the SEC, has suggested that Ethereum ETFs could potentially be approved by the end of the summer. This further optimism adds to the positive momentum surrounding Ethereum and its regulatory journey.