Fun

SEC to drop investigation into Ethereum — Consensys

News Feed - 2024-06-19 10:06:50

Jesse Coghlan7 hours agoSEC to drop investigation into Ethereum — ConsensysThe SEC’s enforcement division said it’s closing its investigation into Ethereum, though Consensys says the fight isn’t over yet.7503 Total views51 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksThe United States Securities and Exchange Commission (SEC) is dropping its investigation into whether Ether is a security.


“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” Ethereum developer Consensys said in a June 19 X post.


“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” which the firm hailed as a “major win for Ethereum developers, technology providers, and industry participants.”Source:Consensys


Consensys said the SEC’s decision came after it sent a letter to the agency on June 7 asking if it would end its investigation into Ether (ETH), as the regulator approved spot Ether exchange-traded funds (ETFs) in May, which the firm said are “premised on ETH being a commodity.”


Consensys senior counsel Laura Brookover shared the SEC’s response letter to the firm, which states that the agency does not “intend to recommend an enforcement action.”


The SEC did not immediately respond to a request for comment.


In March, Fortune reported the SEC issued subpoenas to multiple companies which was related to attempts to label ETH as a security.


Related:SEC chair sees spot Ether ETF S-1 approvals sometime in summer 2024


Consensys sued the SEC in April shortly after receiving a Wells notice from the agency warning it that its MetaMask crypto wallet may have violated securities laws.


The lawsuit claimed the SEC and its Chair Gary Gensler believed ETH was a security since at least early 2023. Consensys claimed SEC Division of Enforcement Director Gurbir Grewal approved a formal order of investigation into Ether’s status as a security on March 28, 2023.


In its latest post, it said the lawsuit is still ongoing.


X Hall of Flame — Polygon never set out to beat Ethereum: Anurag Arjun# Ethereum# SEC# United States# ConsenSys# RegulationAdd reaction

News Feed

Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of United States GDP Data
Bitcoin, Ethereum Technical Analysis: BTC, ETH Consolidate Ahead of United States GDP Data Cryptocurrency prices mostly consolidated on Thursday, ahead of upcoming GDP figures from
$31M Neiro project on Ethereum ‘is a honeypot’ — Wazz
Tristan Greene4 hours ago$31M Neiro project on Ethereum ‘is a honeypot’ — WazzIt’s unclear at this time whether illicit activity has taken place, but a series of red flags has brought the token under scrutiny.171
Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains Weak
Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains WeakCanaan Creative, the Chinese maker of bitcoin mining hardware, reported a net loss of $2.4
Brian Nibley3 hours agoInflation and war impact markets, but Paul Tudor Jones says, ‘I love Bitcoin and gold’Billionaire investor Paul Tudor Jones says he is bearish on U.S. stocks, and bullish on Bitcoin and gold.94
Gamestop NFT Marketplace Is Now Live on Immutable X, Market Features Web3 Games
Gamestop NFT Marketplace Is Now Live on Immutable X, Market Features Web3 Games After announcing the non-fungible token (NFT) marketplace seven months ago, the American consumer el
Paris Hilton’s Roblox experience has driven $60M in media ad equivalency
Tristan Greene5 hours agoParis Hilton’s Roblox experience has driven $60M in media ad equivalencyThe self-proclaimed Queen of the Metaverse sold nearly half a million emotes on Roblox off a viral TikTok campaign.943 To
Marco Castrovilli4 hours agoWorldcoin controversy explained in latest Cointelegraph ReportIn the latest Cointelegraph Report, we analyzed the privacy and ethical concerns around Worldcoin, currently among the most contro
Prashant Jha10 hours agoBitcoin price surge drives BTC-related stocks to new multiweek highsMicroStrategy — the public company holding the most Bitcoin — saw unrealized gains on its BTC investment reach near the $1 b
Binance US Announces Dogecoin Listing
Crypto-lands favorite meme-coin is hitting another U.S.-based exchange. Binance.US has announced Thursday the listing of dogecoin under the DOGE/USDT trading pair. For now, only dep
Fasttoken, Official Crypto of Fastex, to Launch to the Public on January 18
Fasttoken, Official Crypto of Fastex, to Launch to the Public on January 18 sponsored Developed by technology giant SoftConstruct, Fasttoken (FTN) is the official cryptocurrency in
Elon Musk Says Holding Bitcoin Is Less Dumb Than Cash, Disputes Peter Schiff’s Claims About Money and BTC
Elon Musk Says Holding Bitcoin Is Less Dumb Than Cash, Disputes Peter Schiff"s Claims About Money and BTC Tesla and Spacex CEO Elon Musk has clarified his positi
Andrew Singer9 hours agoCan blockchain solutions disrupt US inflation forecasting?New blockchain-based apps like Truflation could be a “healthy development,” given that gauging inflation is more art than science.634