Breakthrough for Ethereum
The blockchain development company Consensys had sued the SEC in April, after the agency had explicitly expressed its opinion on the classification of Ethereum as a security. A significant problem from a regulatory point of view, as ETH had to comply with federal laws regulating financial assets, and which would have significantly compromised the future of the ecosystem.
With the advent of ETH spot ETF (today only preliminarily approved), however, things seem to be change immediately. In fact, Consensys announced in the last few hours that the SEC would notify that it had closed its investigation into Ethereum 2.0, marking an immense victory for the sector.
“Ethereum survives the SEC,” reads a post on X by Consensys. “And ETH will no longer be considerednot even hypothetically, security”.
The end of the debate?
The SEC apparently expressed its opinion following a further request from Consensys on June 7, in which the agency was asked to confirm that ETF approvals would have stopped the investigations. And in fact this was the case, given that the approval of ETFs on ETH is based precisely on premise that tokens are “commodities”.
On this point it therefore seems that the necessary regulatory clarity has been achieved, despite the president of the SEC, Gary Gensler, has always refused to address the issue directly. In contrast, the chairman of the Commodity Futures Trading Commission (CFTC), Rostin Behnamhas already expressed his opinion on ETH as a “commodity”.
“Our fight continues“consensys finally declared. “In our lawsuit, for example, we also seek a declaration that offering MetaMask Swaps and Staking user interface software is not in violation of securities laws.”
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