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Author: Jesse COGHLAN, Cointelegraph; Compilation: Deng Tong, Bitchain Vision Realm
The US Securities and Exchange Commission is abandoning whether Ethereum belongs to securities.
“The law enforcement department of the US Securities and Exchange Commission has notified us that it is ending the investigation of Ethereum 2.0,”Ethereum developer Consensys said in X post on June 19.
“This means that the US Securities and Exchange Commission will not charges ETH’s sales and accuses them as securities transactions.” The company claims that this is “the major victory of Ethereum developers, technology providers and industry participants.”
Source: consensys
Consensys said that SEC’s decision was to send a letter to the agency after June 7 that it would make an investigation of Ether, because the regulatory agency approved the spot ETH exchange trading fund (ETF) in May.The company said that this “eth is a premise of a product.”
Consensys senior legal adviser Laura Brookover shared SEC’s reply letter to the company, saying that the agency “does not intend to adopt law enforcement operations.”
In March, “Fortune” magazine reported that SEC issued a subpoena to many companies, which were associated with ETH as securities.
Shortly after receiving the Wells notification of the agency (warning its Metamask encryption wallet may violate the securities law), Consensys sued SEC in April.
The lawsuit states that the SEC and its chairman Gary Gensler has thought that ETH is a securities since early 2023.Consensys claimed that Gurbir Gream, the head of the Secur law enforcement department, approved an order to formally investigate Ether as a securities as a securities on March 28, 2023.
In its latest post, it means that the lawsuit is still in progress.
