The SEC has decided to end its probe into whether Ethereum (ETH) is a security.
This move comes after Consensys (an Ethereum software firm) filed a complaint, revealing the SEC’s past stance on ETH.
Previously, SEC Chief Gensler called ETH an unregistered security & documents byGurbir Grewal, SEC's Enforcement Division Head approved Ethereum 2.0 investigation
On June 7, Consensys urged the SEC to end its investigation, highlighting that the SEC had approved spot Ether ETFs in May considering ETH a commodity & not a security.
On June 19, the SEC confirmed it will not charge Ethereum for securities violations.
Consensys hailed this as a major win for developers and crypto community also this decision significantly reduces regulatory hurdles for Ethereum and its users.
SEC’s decision marks a positive shift for entire crypto industry. Now, All eyes are on the SEC and upcoming legal proceedings. The future looks brighter for Ethereum!