The US Securities and Exchange Commission (SEC) has concluded its investigation into the Ethereum 2.0 blockchain protocol, Consensys, a major player in the cryptocurrency industry, announced on social media platform X. The announcement came yesterday, following a period of legal wrangling that saw Consensys file a lawsuit against the SEC in April, challenging the regulator’s authority over the Ethereum blockchain.
Joseph Lubin, founder of Consensys and also a co-founder of the cryptocurrency Ether, hailed the decision as a major victory for Ethereum. He stressed the importance of continuing to advocate for clear and fair regulations that enable innovation to flourish, noting that despite the positive developments, the fight for regulatory clarity is far from over.
In an effort to take a decisive legal stand, Consensys is sticking with its lawsuit, seeking a court ruling to confirm that the SEC has no jurisdiction over Ethereum-based APIs or the underlying blockchain itself.
The SEC’s decision comes on the heels of last month’s unexpected approval of spot Ether ETFs by major US exchanges, including Nasdaq, CBOE and the New York Stock Exchange, which was seen as a major win for the cryptocurrency sector.
