SEC Concludes Investigation into Ethereum, Declares ETH Sales Not Securities

In a recent report by CoinGape, despite Consensys' assertion that the battle is not yet over, the SEC's enforcement division has announced that it is concluding its investigation into Ethereum.

The U.S. Securities and Exchange Commission has concluded its investigation into whether sales of ether are securities transactions, the blockchain firm Consensys announced on Monday.

The SEC’s enforcement division has notified Consensys that it will not recommend any enforcement action, Consensys said in a blog post. The announcement comes amid Consensys’ efforts to have ether classified as a commodity.

Consensys said the SEC’s decision follows a letter the firm sent to the agency on June 7, asking the SEC to conclude its investigation into ether. The firm argued that the SEC’s approval of spot ether exchange-traded funds in May was “premised on ether being a commodity.”

Consensys senior counsel Laura Brookover shared the SEC’s response letter to Consensys, which said the agency does not “intend to recommend an enforcement action.” The SEC did not immediately respond to a request for comment.

Consensys’ blog post said its lawsuit against the SEC over its efforts to classify ether as a security is still ongoing. Fortune reported in March that the SEC had issued subpoenas to several firms as part of its efforts to classify ether as a security.

Consensys filed the lawsuit in April shortly after the SEC hit the firm with a Wells notice that said its MetaMask crypto wallet may have violated securities laws. The lawsuit said the SEC and its chair, Gary Gensler, had maintained since at least early 2023 that ether was a security. On March 28, 2023, Consensys said, Gurbir Grewal, the director of the SEC Division of Enforcement, authorized a formal order of investigation into whether ether was a security.

News source：https://www.kdj.com/cryptocurrencies-news/articles/concludes-investigation-ethereum-declares-eth-sales-securities.html

The above is the detailed content of SEC Concludes Investigation into Ethereum, Declares ETH Sales Not Securities. For more information, please follow other related articles on the PHP Chinese website!