“Struggle Continues: SEC Shuts Down Ethereum 2. Probe But Struggle Isn’t Above” – Exec

  • The SEC closes its 14-month investigation into Ethereum 2. without having charging Consensys
  • Consensys vows to continue to keep battling as two additional SEC probes remain in dispute

Terrific information in the entire world of crypto! Following a prolonged authorized struggle, the United States Securities and Exchange Fee (SEC) has at last wrapped up its investigation into Ethereum [ETH] 2. and Consensys, the brains behind the MetaMask wallet.

For around a calendar year, the SEC experienced its eyes on Ethereum 2. and Consensys, but now the dust looks to have settled.

Whilst Ethereum 2. is earning progress with its changeover from Evidence of Operate (PoW) to Evidence of Stake (PoS), Consensys is not completely ready to contact it quits just still.

The Aftermath of the SEC’s Investigation Closure

The crypto earth is abuzz with the information of the SEC wrapping up its probe. Absolutely everyone is now pondering, what does this indicate for the field as a full?

Laura Brookover, Consensys’ Head of Litigation & Investigations, shared her feelings with CNBC, stating,

“We’re delighted to hear that the SEC investigation into Ethereum 2. has concluded without the need of any fees from Consensys. It’s a stage in the right direction, but the struggle is just not about nevertheless.”

Brookover pressured that this Ethereum probe is just one of the battles Consensys is experiencing, with two much more SEC investigations in the combine as portion of their authorized motion in Texas.

This saga commenced back in 2018, when the SEC elevated considerations about Ether’s status as a protection. By 2023, the SEC’s tactic had shifted, foremost to an investigation into Ethereum.

In response, Consensys filed a lawsuit in opposition to the SEC in April 2024 to defend the Ethereum ecosystem, arguing that Ether should really be regarded as a commodity, not a stability.

The lawsuit sparked fascination from lawmakers and the public, questioning the SEC’s stance on Ethereum 2..

In a bid for clarity, Consensys despatched a letter to the SEC in early June about the ETH ETF approvals and its probable impression on the Ethereum 2. investigation.

Consensys' 7th June letter

Source: Laura Brookover/LinkedIn

In response, the SEC pointed out in an 18 June letter,

“We do not intend to advocate an enforcement action by the Commission towards your customer, Consensys Software package Inc., with respect to this investigation.”

SEC's 18th June letterSEC's 18th June letter

Resource: Belongings.ctfassets.web

The Battle Continues…

Regardless of the SEC’s choice to close the investigation, there are nonetheless a lot of unanswered queries. The lack of transparency surrounding the closure raises fears about ongoing investigations and enforcement steps.

As the crypto landscape evolves, there is a escalating need for crystal clear regulatory guidelines. Brookover reiterated,

“We will not end combating till we get clearer responses and a judicial ruling that addresses the issues elevated. The battle for clarity continues!”

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