Ethereum has achieved a significant victory as the SEC has closed its investigation into Ethereum 2.0, confirming that sales of ETH are not considered securities transactions. This decision by the Enforcement Division of the U.S. Securities and Exchange Commission marks a major win for Ethereum developers and industry participants. Consensys, a blockchain firm, announced the closure of the investigation.
The SEC’s decision means that charges alleging that sales of ETH are securities transactions will not be brought. Despite this positive outcome, Consensys continues to battle for regulatory clarity with the SEC. The blockchain firm is seeking a declaration that offering user interface software like MetaMask Swaps and Staking does not violate securities laws.
The closure of the investigation is a significant step forward for Ethereum and the industry as a whole, which has been facing regulatory uncertainties and enforcement actions. Following the news, the price of ETH increased by 3% and is now trading at $3,555 according to data from CoinMarketCap.