SEC Ends Investigation into Ethereum 2.0, Confirms ETH Not a Security

The U.S. Securities and Exchange Commission (SEC) has officially closed its investigation into Ethereum 2.0, determining that ETH sales are not securities transactions. This decision, celebrated by Ethereum developer Consensys, follows the approval of Ethereum-based ETFs and a letter from Consensys urging the SEC to classify ETH as a commodity. The announcement has led to a significant price increase for Ethereum and related cryptocurrencies, reflecting increased investor confidence. Despite this victory, Consensys emphasizes that the regulatory battle continues, particularly concerning services like MetaMask Swaps and Staking. This closure represents a crucial milestone for the Ethereum community, mitigating previous uncertainties about regulatory actions.