With the U.S. Securities and Exchange Commission (SEC) declaring the end of its probe of Ethereum 2.0, Ethereum, the second-largest cryptocurrency by market capitalization, has won a notable triumph. Crucially for the blockchain sector, the SEC’s ruling clarifies that ETH sales are not regarded as securities transactions.
Consensys, a well-known blockchain company, first announced this revelation on X. Consensys stressed the significance of this ruling for Ethereum and the larger cryptocurrency market: “The SEC will not bring charges alleging that sales of ETH are securities transactions.”
Ethereum Gains Clarity After Consensys’ Letter And SEC Ruling
The investigation was closed following a June 7 letter from Consensys to the SEC asking for confirmation that the recent certification of spot ETH exchange-traded funds (ETFs)—implying ETH is treated as a commodity—would lead to the discontinuation of the Ethereum 2.0 probe. The SEC’s ruling fits this demand and gives ETH players much-needed clarity.
Even with this favorable result, the regulatory scene is quite complicated. Consensys keeps looking for more clarification, especially on the legal situation of providing user interface tools like Staking and MetaMask Swaps. The company wants to make sure these offerings follow securities regulations.
The end of the inquiry marks a major turning point for ETHY and the whole cryptocurrency sector, which has been negotiating a difficult regulatory climate. The announcement has immediately had a favorable effect on the market; CoinMarketCap reports that ETH’s price is climbing 3% currently and trading at $3,555.
This development gives Ethereum an optimistic turn as the regulatory conversation continues, supporting its place in the changing digital asset scene.
