SEC Drops Investigation Into Ethereum 2.0
Circle's IPO Application Faces Challenges Due To SEC Scrutiny, Bitcoin Dominance At 56%
ConsenSys has celebrated on X that the SEC’s enforcement division is closing the investigation into Ethereum 2.0 with no charges related to Ether-as-security transactions.
This comes following ConsenSys' letter to the SEC sent on June 7, asking to end the investigation after the approval of Etherum ETFs. That approval premised on Ethereum being a commodity. ConsenSys also sued the SEC in April about the Wells notice.
The SEC's response was shared.
In March, the SEC subpoenaed multiple companies in relation to Ether supposedly being a security.
Lido, Ethereum Name Service, and Maker tokens were positively impacted by this SEC decision.
While this is hailed as a big win for Ethereum and the industry, the debate isn't over. Coinbase's legal chief Paul Grewal said the biggest issues weren't addressed and the broader ecosystem is still facing many legal uncertainties.
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