The SEC closes investigation into Ethereum 2.0, no securities charges against ETH: Consensys

The US Securities and Exchange Commission (SEC) has wrapped up its investigation into Ethereum 2.0 and will no longer pursue legal action claiming that ETH sales are securities transactions, according to a recent announcement from Consensys.

Consensys said this is a major win for Ethereum developers and businesses. It removes a cloud of uncertainty that could have hampered Ethereum’s growth.

As noted, the SEC’s decision comes after Consensys sent a letter to the SEC arguing that the recent approval of spot Ethereum ETFs implied ETH wasn’t a security, and the SEC should close the investigation. The SEC’s decision likely hinged on considering ETH a commodity, much like BTC, and signifies no forthcoming legal challenges in this regard.

Despite this progress, Consensys said the quest for definitive regulatory guidelines continues, especially concerning services like MetaMask Swaps and Staking. The team is still seeking broader clarity from the SEC on crypto regulations.