jakiro
Author: MIA, CHAINCATCHER
After Ethereum ETF was approved, Ethereum once again won a phased victory in the public vision.
On June 19, Ethereum Infrastructure Development Company Consensys posted in social media: “We are glad to announce a major victory in Ethereum developers, technology providers and industry participants: the US Securities and Exchange Commission (SEC)The law enforcement department notifys us that it is ending investigations on Ethereum 2.0.
The 14 -month survey finally came to an end and won a satisfactory progress.
SEC survey beginning and end
According to people familiar with the matter, the survey began in September 2022 ETH to POS.
When the ETH blockchain turns to the “certificate of equity”, Ethereum gets rid of the energy dense model used by Bitcoin, and instead uses a model that depends on the creditor’s network.Fang is defined as a securities.
In this regard, a spokesman for the Consensys said: “Look at Director Hinman’s speech in 2018, he will understand that at that time he said that Ethereum was not a securities. He did not use POW or POS as a basis. The consensus mechanism was irrelevant.”
As early as 2018, William Hinman, then director of the Ministry of Finance, delivered an important speech, clearly stated that Ethereum was not regarded as securities.Gary Gensler, currently the current SEC Chairman, also said in the Congress to testify before he was the chairman of the SEC.
The sudden investigation undoubtedly caused public disputes and pushed SEC to the cusp.
The major crypto leaders began to publicly attack the SEC.
Coinbase Chief Legal Officer PaulgrewAl.ETH has posted on social media that millions of Americans have held ETH. Since its launch in 2015, ETH has been crucial to the cryptocurrency field.Securities, this is also a position that the US Securities and Exchange Commission has been adopted for many years. SEC has no reason to refuse ETH ETF applications.
The premise of ETH ETF’s approval is the assumption of ETH as a product. With the application of ETH ETF in May this year, ETH’s product attributes have been proven again, which also means that the agency will end the investigation of Ethereum 2.0.This survey seemed to be more “nonsense.”
SEC also seemed to realize this, and finally gave up the investigation.
SEC is mild
Since Gary Gensler took office, SEC seems to have been regarded as the “public enemy of the encrypted world”.
Whenever SEC investigates or acts in some projects or well -known people, the market often fluctuates, and even leads to a round of market decline.
Since serving as the chairman of SEC in April 2021, Gary Gensler has more than half of his term.During its term, Gary Gensler led cases of many well -known crypto companies, including Binance, Coinbase, Kraken, and FTX.The problems involved in these cases include market manipulation, unregistered securities issuance, and violating anti -money laundering regulations.These actions have made encrypted companies feel unprecedented supervision pressure, and also triggered the industry’s discussion on regulatory standards and scope.
Over time, encrypted users seem to have begun to be immune, and SEC’s attitude towards encryption seems to be mild in the soft and hard bubbles of the encryption industry.
Faced with controversy and questioning, Gary Gensler and SEC are also trying to adjust their regulatory strategies and remarks.They began to pay more attention to communication and cooperation with the encrypted industry, trying to find a way of regulatory methods that can protect both investors’ rights and promote market development.
While the “rectification” encryption industry, SEC has been committed to the integration of encrypted finance and traditional finance.
In January of this year, Bitcoin spot ETF was listed; in May, SEC also approved the 19 B-4 documents of Ethereum spot ETF, which promoted the integration of the encrypted industry and mainstream finance.
Regarding the recent SEC’s moderate measures in the encryption field, Wu Wenqian, a Hong Kong blockchain lawyer, believes that “the SEC regulatory attitude seems to have a sign of wind direction.”
Lawyer Wu said, “Last month, SEC officially passed the decision of 19 B-4 files of Ethereum spot ETF in Ethereum. Although it was still a certain controversy in the law of ETH, this measure undoubtedly brought a touch of warmth to the cryptocurrency industry.Meaning. Although the decision to revoke the investigation may not have a direct guiding significance for the transparency and consistency of supervision, it is undoubtedly considered an important signal that may change in the direction of supervision.
Considering that the US election is approaching this year, a major change may indeed occur.Against such a context, the adjustment of SEC’s supervision of cryptocurrencies may indicate a more open and inclusive regulatory environment in the future.For the cryptocurrency industry, this is undoubtedly a positive signal worth looking forward to.”
On June 20, Forbes business reporter Eleanor Terrett revealed that Consensys founder Joseph Lubin said that the company still plans to continue to promote the lawsuit. “The US Securities and Exchange Commission decided to end the 14 -month survey of Ethereum is a popular progress-This is necessary, but it is not enough to have a better market supervision method than the raid.. Before this, we will continue to lawsuit against the US Securities and Exchange Commission in Texas, because we are committed to fighting for more legal clarification for everyone. “
Facing the barbaric growth original encrypted society, the corresponding supervision and adjustment are undoubtedly a must.
As Lubin said, only through legal means clearing the scope and scale of supervision can the healthy development of the encryption industry be truly promoted, while protecting the legitimate rights and interests of investors.Assault inspection.
