Ethereum Fans Celebrate as SEC Drops Investigation into Blockchain Ecosystem
Ethereum enthusiasts can now breathe a sigh of relief as the US Securities and Exchange Commission (SEC) has officially closed its investigation into the blockchain’s ecosystem. The news was shared by Ethereum development studio Consensys, bringing a major win for Ethereum developers, technology providers, and industry participants.
The announcement comes after indications of an SEC probe into Ethereum and related entities surfaced earlier this year. Consensys had even filed a lawsuit against the SEC, alleging regulatory overreach and seeking to prevent ETH from being classified as a security following its switch to proof of stake.
The formal notice from the SEC puts an end to one of crypto’s primary existential threats, at least for now. The letter from the SEC to Consensys stated that they do not intend to recommend an enforcement action against Consensys Software Inc. in relation to the investigation into Ethereum 2.0.
While this news is a positive development for Consensys, other legal threats still loom over the crypto industry. The SEC’s probe into Uniswap has not been dropped, and there is no indication of a lawsuit being filed yet.
Overall, the closure of the SEC investigation into Ethereum is a significant milestone for the blockchain community, providing clarity and reassurance to Ethereum supporters. Stay tuned for more updates on the evolving regulatory landscape in the crypto space.