Ethereum (ETHUSD)

[ap17]

IT’S FINALLY OVER 🏦
BREAKING: SEC to drop investigation into Ethereum — Consensys

Ethereum
The SEC has dropped its investigation into whether Ethereum is a security.

In a Twitter post, Consensys (developers behind Metamask) stated:

“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.”


Consensys
Continuing on the post explains:

“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions… [This is a] major win for Ethereum developers, technology providers, and industry participants.”


Consensys
This is MASSIVE news.

Consensys
This decision from the SEC came after Consensys sent a letter to them on June 7.

The letter simply asked if the SEC would drop its investigation in ETH as they recently approved spot Ethereum ETFs.

The approval of the spot Ethereum ETFs hinged on Ethereum being classified as a commodity.

So how can they sue Consensys for the sale of unlawful securities transactions? 🤨

It doesn’t make any sense…

However with the SEC being the SEC, they made sure to mention that while they’ve concluded this investigation, it doesn’t mean that there will never be an enforcement action…

Ethereum also jumped up ~3% as soon as this news broke, sitting around $3,530 at the time of writing.

ETH
This is a big day for Ethereum and all of crypto.

Hopefully the industry can now move forward without the the SEC suing every innovative company out of existence.

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