Ethereum Wins As US SEC Ends Securities Investigation
Summary
The SEC concluded its investigation into Ethereum 2.0, announcing no enforcement actions. In 2018, the SEC stated Ether was not a security, but in 2023, it hinted at regulatory oversight due to Ethereum's evolution. Consensys filed a lawsuit to confirm ETH as a commodity, citing SEC-approved Ethereum-based ETFs. The SEC officially closed the investigation on June 18, 2024, without enforcement action. This could set a precedent for crypto regulation. Consensys seeks further regulatory clarifications and a federal court ruling on their operations. Ether's price increased by 3.3% to $3,561 in response to the SEC's decision.
