Ethereum Price Rises Slightly After SEC Concludes Investigation
The U.S. Securities and Exchange Commission (SEC) is reportedly concluding its investigation into Ethereum 2.0 and ConsenSys, the company behind the MetaMask wallet. In response to this update, ConsenSys announced it had âsurvived the SEC,â marking a significant victory for ETH developers.
âEthereum has prevailed over the SEC. Today, we are thrilled to announce a major victory for Ethereum developers, technology providers, and industry participants: the SECâs Enforcement Division has informed us that they are closing their investigation into Ethereum 2.0.â
Ethereum 2.0 refers to the post-Merge era, when the network transitioned from Proof of Work (PoW) to Proof of Stake (PoS). Clarifying the updateâs implications for ETH sold after the Merge, the company added: âThis means the SEC will not allege that the sale of ETH constitutes a securities transaction.â