US SEC Drops Investigation Into Ethereum — ConsenSys
The U.S. SEC has decided to end its investigation into Ethereum 2.0 without pressing any charges, says ConsenSys, a leading Ethereum developer.
What’s the significance: This means that selling ETH is not considered a securities transaction, providing reassurance to developers and users of Ethereum.
Immediate impact: ETH is up 3% immediately after the news was posted by ConsenSys.
- ETH is currently the only major token which posted an increase in the past hour, the past 24 hours, and the previous seven days.
- Lido Staked Ether and Wrapped eETH, which are listed separately by Coingecko also posted roughly similar gains.
The big picture: This is a major victory for the crypto industry. The SEC had already approved Ethereum ETFs, suggesting they view ETH as a commodity.
However: ConsenSys is still challenging the SEC in court to clarify if MetaMask Swaps and Staking violate securities laws. This legal fight began after the SEC issued a warning about MetaMask.
What’s next: The ongoing lawsuit aims to secure clear regulations for the crypto industry, which ConsenSys believes are necessary for innovation and growth in blockchain technology.
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This article is published on BitPinas: US SEC Drops Investigation Into Ethereum — ConsenSys
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