So long, Ethereum investigation 👋🏼

Consensys says the SEC investigation into Ethereum 2.0 is no more

Author

Stacy Elliott
June 19, 2024

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📝 What you need to know

In case you missed it, Consensys confirmed that the U.S. Securities and Exchange Commission has called off its “Ethereum 2.0” investigation with no charges filed. That’s sent a huge wave of relief among ETH traders. And at the time of writing, the price of Ethereum is 5% higher than it was this time yesterday.

But that also leaves the industry with some pressing questions, as Coinbase Chief Legal Officer Paul Grewal pointed out on Twitter. Perhaps the most urgent among them: “How do you explain both this decision and the other projects maligned by the SEC’s broken Howey analysis?”

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💬 Quote of the Day

“Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0. This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.”

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