The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into the blockchain protocol Ethereum2.0, according to a social media post by cryptocurrency firm Consensys late Tuesday.
The announcement comes after Consensys filed a lawsuit in April seeking an injunction against the SEC over its regulatory stance on the Ethereum blockchain. Joseph Lubin, founder of Consensys and co-founder of the cryptocurrency ether, hailed the closure as “a significant victory” for Ethereum.
“While we welcome this development, it’s not enough. We must remain vigilant and continue advocating for clear and fair regulations that enable innovation to flourish,” Lubin stated on social media platform X on Wednesday.
Despite the SEC’s decision to end the inquiry, Consensys plans to continue its legal battle to obtain a court ruling affirming that the SEC lacks authority to regulate user-controlled software interfaces on Ethereum and the Ethereum blockchain itself.
An SEC spokesperson declined to comment on the matter, citing the commission’s policy of not discussing the existence or nonexistence of investigations.
In a related development last month, the SEC approved applications from Nasdaq, CBOE, and NYSE to list spot ether ETFs, a move that surprised many in the cryptocurrency industry who had anticipated rejection of these filings.
The closure of the SEC investigation and the approval of ether ETFs represent significant wins for the cryptocurrency sector, which continues to push for regulatory clarity and support for blockchain innovations.
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