worldcoinindex.com
Consensys Software Inc. announced a significant development today: the U.S. Securities and Exchange Commission (SEC) is closing its investigation into Ethereum 2.0, which the blockchain company lauded as a "major win" for the industry.
In an X post, Consensys declared, “Ethereum survives the SEC,” highlighting that the SEC will not pursue charges claiming that ETH sales constitute securities transactions.
The SEC’s decision followed a letter sent by Consensys on June 7, seeking confirmation that the spot ether exchange-traded fund (ETF) approvals in May indicated the end of the Ethereum 2.0 investigation. The approvals, still pending finalization, suggested that ETH tokens were considered commodities, according to Consensys.
Consensys, known for its development of the MetaMask Ethereum wallet, had previously filed a lawsuit against the SEC in April, challenging the agency's classification of ether as a financial security. The complaint stated that Gurbir Grewal, Director of the SEC’s Division of Enforcement, had initiated the investigation into Ethereum 2.0 on March 28, 2023, targeting individuals and entities involved in ether transactions. The SEC had issued a Wells notice to Consensys in April, signaling an impending enforcement action.
While SEC Chair Gary Gensler has not explicitly stated whether ether is a security, Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam has identified ether as a commodity.
“Our fight continues,” Consensys asserted, emphasizing that their lawsuit also seeks a declaration that MetaMask Swaps and Staking, the company's user interface software, do not violate securities laws.