SEC Drops Ethereum 2.0 Investigation, Consensys Lawsuit Continues Over MetaMask

Blockchain company Consensys Software Inc. announced that the US Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0, marking a significant victory for the industry. 

The decision comes after Consensys sent a letter to the SEC on June 7, requesting confirmation that the agency would end its probe following the approval of spot ether exchange-traded funds (ETFs) in May.

Consensys filed a lawsuit against the SEC in April, opposing the agency’s categorization of ether as a financial security. The company claimed that SEC’s Director of Enforcement, Gurbir Grewal, had approved an investigation into Ethereum 2.0 on March 28, 2023, to examine individuals and entities trading ether. 

While SEC Chair Gary Gensler has not directly addressed whether ether is a security, Commodity Futures Trading Commission Chair Rostin Behnam has classified ether as a commodity. Consensys said on X that their “fight continues,” as they seek a declaration that offering user interface software like MetaMask Swaps and Staking does not violate securities laws.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Silver47 Completes Property-Wide Geochemical, Rock Sampling Program At Adams Plateau, Identifies Numerous Targets

Altamira Gold Identifies Presence Of Second Mineralized Porphyry Body At Cajueiro

Related News

House Works To Remove SEC Chair Gary Gensler

House Majority Whip Tom Emmer has announced his support for the SEC Stabilization Act, introduced...

Tuesday, June 13, 2023, 11:01:15 AM

SEC Punches Down On Retail Investors With New Ad

The US Securities and Exchange Commission on Tuesday released a new commercial called “Investomania: Meme...

Wednesday, June 1, 2022, 12:52:00 PM

SEC’s Crypto Enforcement Heats Up: More Actions on the Horizon

The US Securities and Exchange Commission (SEC) is intensifying its pursuit of crypto exchanges and...

Wednesday, September 20, 2023, 03:53:00 PM

Elon Musk Faces SEC Trouble Yet Again

Elon Musk, CEO of Tesla Inc. (NASDAQ: TSLA), is once again under scrutiny by the...

Friday, December 13, 2024, 02:59:00 PM

Bittrex Agrees To Settle SEC Charges For $24 Million

The U.S. Securities and Exchange Commission (SEC) has announced that Bittrex Inc, along with its...

Friday, August 11, 2023, 10:44:00 AM