US SEC Drops Investigation Into Ethereum

[TomPluz]

Get more of this Ethereum development news here.

The U.S. SEC has decided to end its investigation into Ethereum 2.0 without pressing any charges, says ConsenSys, a leading Ethereum developer.

What’s the significance: This means that selling ETH is not considered a securities transaction, providing reassurance to developers and users of Ethereum.

The big picture: This is a major victory for the crypto industry. The SEC had already approved Ethereum ETFs, suggesting they view ETH as a commodity.

However: ConsenSys is still challenging the SEC in court to clarify if MetaMask Swaps and Staking violate securities laws. This legal fight began after the SEC issued a warning about MetaMask.

What’s next: The ongoing lawsuit aims to secure clear regulations for the crypto industry, which ConsenSys believes are necessary for innovation and growth in blockchain technology.

Hopefully, this can free Ethereum from the possibility of lawfare coming from SEC and other government regulatory platforms and will be helping a lot to push the price of ETH to surge as the spot ETF for Ethereum has already been approved. Finally, the question whether Ethereum can be involved with securities is over and Vitalik Buterin can now rest in his bed without a lot to worry about...hopefully he can add more muscles by eating more (just kidding!). Now, with this very positive development, would you be buying more ETH in preparation for it getting the $10,000K prize in 2025?

[target]

This will help ETH ETFS be approved. Its a good news for crypto. Looking on the otherside of this, Larry Fynk must have gone under to make this possible.

But how high is SEC's chance to win against Metamask?
 I m sure its nit going to be good if they win. Wallets will be in a bad possition.

[NotATether]

What is this, the SEC is now investigating protocol upgrades after they have already been decided and done by consensus and more importantly in public by the community?

What was there even to investigate anyway? It feels like a sham.

But how high is SEC's chance to win against Metamask?
 I m sure its nit going to be good if they win. Wallets will be in a bad possition.

Well yeah, indeed, they would very much like to put wallet developers in a chokehold position - it's not good because it means that there would only be a few big wallets from large companies remaining.

[ABCbits]

It's some good news. Although it's not surprising SEC is still after MetaMask when SEC also are after Uniswap, where you can use Uniswap inside MetaMask wallet.