Major Win For Ethereum?

Yahoo Finance

Hey folks.

According to Consensus, the blockchain firm, the second largest crypto by market capitalization, Ethereum has gained a remarkable victory as the Enforcement Division of the United States Securities and Exchange Commission (SEC) announced the termination of its investigation into Ethereum 2.0.

The decision by Securities and Exchange Commission means that the agency, "will not bring charges alleging that sales of ETH are securities transactions".

According to Consensus:

The closing of the Ethereum investigation is momentous, but it’s not a cure-all for the many blockchain developers, technology providers, and industry participants who have suffered under SEC’s unlawful and aggressive crypto enforcement regime.”

The most recent development follows a letter sent by Consensys to the SEC on June 7. In that letter, the company asked for assurance that the Ethereum 2.0 inquiry will be closed as a result of the recent approval of spot Ethereum exchange-traded funds (ETFs), presuming that ETH is a commodity.

The fight for regulatory clarity between the Securities and Exchange Commission and Consensus continues, inspite of the positive result.

The termination of investigation is deemed as a remarkable victory and a step forward for Ethereum and whole crypto market which has been struggling with the regulatory uncertainties and enforcement actions lately.

The price of Ethereum jumped to 3% following the updates.

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