{"id":14485,"date":"2024-06-19T10:55:53","date_gmt":"2024-06-19T07:55:53","guid":{"rendered":"https:\/\/forklog.com\/en\/sec-concludes-investigation-into-ethereums-status\/"},"modified":"2024-06-19T10:55:53","modified_gmt":"2024-06-19T07:55:53","slug":"sec-concludes-investigation-into-ethereums-status","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sec-concludes-investigation-into-ethereums-status\/","title":{"rendered":"SEC Concludes Investigation into Ethereum&#8217;s Status"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>The regulator has closed its investigation into Ethereum 2.0.<\/li>\n<li>ETH-ETF issuers described recent S-1 application adjustments as &#8220;light&#8221;.<\/li>\n<\/ul>\n<\/div>\n<p>The Enforcement Division of the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0, according to a statement from ConsenSys.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">ETHEREUM SURVIVES THE SEC.<\/p>\n<p>Today we\u2019re 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. <\/p>\n<p>This means that the SEC\u2026<\/p>\n<p>\u2014 Consensys (@Consensys) <a href=\"https:\/\/twitter.com\/Consensys\/status\/1803230653120659641?ref_src=twsrc%5Etfw\">June 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The SEC took this step after the organization sent a letter requesting clarification on the asset class when approving spot ETH-ETFs.<\/p>\n<p>The relevant request from ConsenSys was submitted on June 7. In it, the company&#8217;s employees asked the regulator to confirm that the <a href=\"https:\/\/forklog.com\/en\/news\/sec-approves-spot-ethereum-etfs-key-developments\">registration of 19b-4 applications<\/a> for the product was based on the premise that the asset is classified as a commodity, and therefore, the agency would close the investigation.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;Ethereum has survived the SEC. In other words, the agency will not press charges that the sale of ether constitutes securities transactions,&#8221;<\/em> wrote ConsenSys.<\/p>\n<\/blockquote>\n<p>On April 26, the organization <a href=\"https:\/\/forklog.com\/en\/news\/consensys-challenges-sec-over-ethereum-regulation\">filed a lawsuit<\/a> against the Commission and its five unnamed employees over &#8220;ETH regulation.&#8221; In it, they urged the court to officially confirm the wording that the asset would not be considered a security.<\/p>\n<p>According to company representatives, on April 10, they received a notice warning of potential enforcement actions related to MetaMask Swaps and MetaMask Stakes products.<\/p>\n<p>News from ConsenSys led to a surge in Ethereum&#8217;s price during morning trading on June 19. The rate rose above $3580 before retreating to around $3560. At the time of writing, daily growth rates are 3.7%, according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/ethereum\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1069.webp\" alt=\"1-1069\" class=\"wp-image-235128\"\/><figcaption class=\"wp-element-caption\">15-minute ETH\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The SEC&#8217;s pressure regarding the status of the second-largest cryptocurrency by market capitalization extended beyond ConsenSys. In March, the Ethereum Foundation and several other organizations <a href=\"https:\/\/forklog.com\/en\/news\/ethereum-foundation-allegedly-receives-confidential-request-from-unnamed-state-authority\">received requests<\/a> from the agency regarding ETH&#8217;s status. This prompted a reassessment of the chances for ETH-ETF approval in May.<\/p>\n<p>On June 15, after the approval of 19b-4 applications, Bloomberg analyst Eric Balchunas announced the postponement of the launch date for spot Ethereum-ETFs to July 2, following issuers&#8217; receipt of comments on S-1 forms.<\/p>\n<p>Two days earlier, SEC Chairman Gary Gensler noted that he expects the bureaucratic procedures to be completed for the start of ETH-ETF trading by the end of summer.<\/p>\n<p>On June 18, sources from <a href=\"https:\/\/www.theblock.co\/post\/300737\/ethereum-etf-issuers-working-to-address-reasonable-comments-from-sec-by-friday-sources\">The Block<\/a> confirmed Balchunas&#8217;s information regarding the regulator&#8217;s comments on S-1 forms. Issuers need to prepare them by June 21.<\/p>\n<p>A source from one of the organizations that submitted documents stated that the latest round of comments was &#8220;reasonable,&#8221; and they eagerly anticipate swift approval. A representative from another company described them as &#8220;light.&#8221;<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;I believe that applicants will submit documents fairly quickly this week. Then we will see how many more turns of the wheel are needed,&#8221;<\/em> he added.<\/p>\n<\/blockquote>\n<p>K33 Research estimated a net inflow into ETH-ETF of $3.1\u20134.8 billion in the first five months after trading begins.<\/p>\n<p>Previously, VanEck raised its Ethereum forecast to $22,000 by 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The regulator has closed its investigation into Ethereum 2.0. ETH-ETF issuers described recent S-1 application adjustments as &#8220;light&#8221;. The Enforcement Division of the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0, according to a statement from ConsenSys. ETHEREUM SURVIVES THE SEC. Today we\u2019re happy to announce a major win for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14484,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[246,569,46,1150,36,128],"class_list":["post-14485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-consensys","tag-etf","tag-ethereum","tag-news-plus","tag-regulation","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"45","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=14485"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/14485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/14484"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=14485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=14485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=14485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}