In a major win for the Ethereum community, ConsenSys, a leading blockchain technology company, announced that the U.S. Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0. This decision suggests that the SEC will not classify the sale of Ether (ETH) as a security.
The news comes after a period of uncertainty, with ConsenSys filing a lawsuit against the SEC in April over its categorization of ETH. The lawsuit also challenged the SEC’s probe into Ethereum 2.0, which began in March 2023.
ConsenSys’ announcement follows a letter they sent to the SEC in early June, urging the agency to acknowledge the recent approval of Ethereum-based ETFs. These approvals were based on the classification of ETH as a commodity, which ConsenSys argued should lead to the closure of the investigation.
“The closing of the Ethereum investigation is a significant development,” said a ConsenSys spokesperson. “However, the fight for clear regulatory frameworks in the blockchain industry continues.”