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.
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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.
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