SEC gives up tracing ETH! However, the wallet MetaMask staking and trading functions will still be sued.

Consensys stated that the U.S. Securities and Exchange Commission (SEC) has informed the company that it will end its investigation into Ethereum 2.0. The SEC’s decision follows a request letter from Consensys seeking clarification on the SEC’s approval of the attributes of ether in an Ethereum spot ETF.

SEC gives up pursuing ETH as a security?

According to the Consensys announcement, Consensys described this as a "major victory for the industry." Its tweet wrote: Ethereum survived the SEC's review, which means that the SEC will not accuse ETH sales of being securities transactions. Our June 7 letter asking the SEC to confirm that May’s Ethereum ETF approval was premised on the fact that ETH is a commodity. The conclusion of the Ethereum investigation is significant, but for many areas suffering from the SEC’s illegal and aggressive crypto enforcement. This is not a panacea for blockchain developers, technology providers and industry players.

ConsenSys received the SEC’s Wells Notice on April 10, and then decided to take the initiative to sue the SEC. At that time, it mainly had the following demands:

• Hope the federal court declares that ETH is not a security.

• MetaMask’s staking service does not violate securities laws.

• MetaMask is not a trading broker under federal law.

Consensys products are still in danger

Consensys’ lawsuit is still pending. FOX reporter Eleanor Terrett tweeted that in fact, the SEC has not yet filed a lawsuit against Wells. What is proposed in the notice is that Consensys is accused of violations of MetaMask’s Swap trading and staking functions, and formal charges may be filed in the next few days or weeks.

Consensys also stated in the announcement: Our fight continues, and we will show in the lawsuit that the functions such as Swaps and staking provided by MetaMask do not violate securities laws, let alone provide urgently needed relief through litigation. Regulatory clarity.

The above is the detailed content of SEC gives up tracing ETH! However, the wallet MetaMask staking and trading functions will still be sued.. For more information, please follow other related articles on the PHP Chinese website!