SEC officially concludes investigation on Ethereum 2.0 and classifies it as a commodity: criticism of the decision.
On June 18th, the SEC of the United States has officially closed its investigation on Ethereum 2.0, determining that the initial sales of Ether do not constitute security transactions. This decision was communicated following ConsenSys’ request to reaffirm Ether’s status as a commodity, a request made after the approval of spot ETFs in May. On June 7th, in fact, ConsenSys wrote a letter to the SEC, arguing that the approval of ETFs should have resulted in the closure of the investigation into Ethereum 2.0.
Through a post on X, ConsenSys, one of the leading companies behind the Ethereum ecosystem, announced the closure of the investigation, describing it as a significant step for developers, providers, and users.
However, ConsenSys communicated that the conflict with the SEC continues, emphasizing that challenges remain to be faced under the presidency of Gary Gensler. The closure does not imply absolution from other potential unlawful activities such as the offering of the MetaMask Swaps and Staking software.
There was much criticism regarding the SEC’s inconsistent management of digital assets. Some legal experts highlighted the favorable treatment towards Ethereum compared to the hostility shown towards Ripple, which is still facing a long legal battle against the Commission.
