SEC Closes Ethereum 2.0 Investigation, Declares ETH Not a Security; No Charges for Consensys

Jun 19, 2024, 01:25 AM

The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0 as of June 19, determining that the sale of ETH does not constitute a securities transaction. This decision marks a significant victory for Consensys, Ethereum developers, and the broader cryptocurrency community. Consensys had sent a letter to the SEC on June 7, requesting confirmation that the approval of spot ETH ETFs would result in closing the Ethereum 2.0 investigation. The SEC's notification came on June 13, officially ending the probe with no enforcement action. Following the news, the price of ETH rose by 2%, reclaiming $3,500.