Ethereum
SEC closes investigation into Ethereum
Consensys: SEC closes investigation into Ethereum
Leading Ethereum Developer Consensys revealed Tuesday evening that the United States Securities and Exchange Commission (SEC) has decided to close its investigation into Ethereum 2.0. This announcement marks a pivotal moment for Ethereum developers and the broader crypto industry.
The decision follows the SEC’s approval of Ethereum spot ETFs last month. Consensys responded to this approval by sending a letter to the SEC, emphasizing that the funds were based on the classification of ETH as a commodity. The letter requested clarification on the impact of this classification on the ongoing investigation.
Laura Brookover, an attorney for Consensys, took to Twitter to share the SEC’s notification letter as well as the company’s full statement. “Things have changed remarkably quickly since we filed our complaint against the SEC in late April, culminating in today’s development,” Brookover wrote. “After over a year, the Ethereum investigation is finally over with no charges against anyone.”
Despite this positive news, the SEC correspondence included a standard disclaimer, emphasizing that the investigation’s conclusion should not be construed as exoneration or a guarantee that no future action would be taken.
While the closure of the Ethereum investigation is a significant victory, Consensys remains critical of the SEC’s overall approach to crypto regulation. “Closing the Ethereum investigation is momentous, but it is not a panacea for the many blockchain developers, technology providers, and industry participants who have suffered from Ethereum’s illegal and aggressive crypto enforcement regime. the SEC.”