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Consensys senior counsel Laura Brookover shared the SEC’s response, which indicated that the agency does not plan to recommend any enforcement action. Back in March, Fortune reported that the SEC had issued subpoenas to several companies as part of efforts to classify ETH as a security.
In April, Consensys took legal action against the SEC after getting a Wells notice from the agency. This notice suggested that their MetaMask crypto wallet might have broken securities laws.
The lawsuit argued that the SEC and its Chair, Gary Gensler, had considered ETH to be a security since early 2023. Consensys stated that on March 28, 2023, SEC Division of Enforcement Director Gurbir Grewal approved a formal investigation into whether Ether is a security.
How has the Ethereum Price Moved Recently?
Ethereum is currently priced at $3,543.27, with a 24-hour trading volume of $19.40 billion and a market cap of $425.68 billion, holding 17.88% of the market share. Over the past 24 hours, ETH's price has risen by 3.19%.
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