Consensys announced on June 19 that the SEC's Enforcement Division has closed its investigation into Ethereum 2.0. This decision means the SEC will not pursue charges alleging that ETH sales are securities transactions, marking a significant victory for Ethereum developers, technology providers, and industry participants.
Consensys stated that the SEC's decision followed their June 7 letter requesting the end of the Ether investigation, particularly after the SEC approved spot Ether ETFs in May. These ETFs are based on the premise that ETH is considered a commodity.
An SEC spokesperson declined to comment on whether an investigation had taken place.
Previously in March, Fortune reported that the SEC had issued subpoenas to several companies in relation to efforts to classify ETH as a security.
In April, Consensys filed a lawsuit against the SEC shortly after receiving a Wells notice regarding potential violations of securities laws by its MetaMask crypto wallet. The lawsuit claimed that SEC Chair Gary Gensler and others believed ETH was a security since early 2023. Consensys alleged that the SEC's Division of Enforcement Director Gurbir Grewal had authorized an official investigation into Ether's security status in March 2023.
Consensys noted in its latest update that the lawsuit is ongoing.
