Major Win for Ethereum: SEC Closes Investigation
The bearish trends in the cryptocurrency community have landed it in a difficult place lately.
However, there is good news to celebrate: Ethereum has just won a major legal battle.
Earlier today, Ethereum developer Consensys disclosed this fact in a blog post adding that the U.S Securities and Exchange Commission (SEC) investigation of ETH will be closed.
In April, Consensys filed a lawsuit against SEC regarding the classification of Ethereum as a security. The chairperson of SEC, Gary Gensler had indicated earlier that ETH was indeed a security. Nevertheless, Consensys stated in its most recent blog post,
“Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0. This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.”
READ MORE: Hashdex to Launch Hybrid Bitcoin and Ethereum ETF
On June 7th, Consensys wrote to SEC asking if the approval for spot Ethereum ETFs means that no action would be taken against Ethereum 2.0 by them anymore.
The letter from the SEC in response was shared by Laura Brookover who is an attorney at Consensys while underpinning what she believes is at stake with this victory. Despite this success, however, Consensys still maintains that the regulatory approach used by the SEC needs some criticism because such victories do not solve the problems of all blockchain developers, technology providers and industry players considering how stringent they enforce crypto regulations.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
