Ethereum
SEC Drops Securities Investigations into Ether, Consensys Says
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Consensys relayed via The news comes as the SEC is in the final stages of approving spot Ether ETFs.
“Today, we are pleased to announce a major victory for Ethereum developers, technology providers, and industry participants: the SEC’s Enforcement Division informed us that it is closing its investigation into Ethereum 2.0.”, Consensys said in a statement. job.
He continued: “This means that the SEC will not bring charges alleging that ETH sales are securities transactions.” The SEC began investigating Ethereum for selling illegal securities since the network moved to the Proof-of-Stake (PoS) consensus mechanism. He has also previously argued that any cryptocurrency other than Bitcoin is a security.
However, the tone has changed in recent times, especially when it comes to ETH, as this scenario shows. Consensys contacted the agency through a June 7 letter, asking if it would continue its efforts to charge Ethereum even though it was months, if not weeks, away from approving Ether ETFs. He responded to Consensys, stating that it is now based “on the assumption that ETH is a commodity.”
If the SEC continues its actions to take down Ethereum and the service ecosystem built around it in the United States, Consensys would be one of many people affected. In fact, it was hit with a Wells Notice from the SEC, as were many other service providers for allegedly acting as brokers that dealt illegally with ETH.
Consensys operates MetaMask, offering ETH swaps and staking services. He sued the regulator for going after Ethereum, citing the SEC’s unfair treatment of cryptocurrencies and its intent to control the industry and halt innovation.
In its April 25 court filing, Consensys said: “The SEC’s illegal takeover of authority over ETH would be a disaster for the Ethereum network and for Consensys. » This trial is still ongoing.
Image of Satheesh Sankaran Since Pixabay
– Announcement –