Consensys Software Inc. will continue to pursue its lawsuit against the U.S. Securities and Exchange Commission (SEC), Fox Business reporter Eleanor Terrett wrote in an X post, quoting Consensys founder Joseph Lubin. Yesterday, Consensys announced: The SEC has closed its investigation To Ethereum 2.0.
According to Teret X postRubin called the end of the SEC investigation a “necessary but not sufficient” development, adding that the company would pursue litigation to increase legal clarity on cryptocurrencies.
According to Terrett’s post, Lubin said he “expects the hostility toward cryptocurrencies from some U.S. regulators to decrease and national investor protection strategies to evolve from current guerrilla tactics.”
In an announcement Tuesday, Consensys said: explanation The conclusion of the SEC investigation is a “significant victory” for the industry, he said, noting that the decision means the agency will no longer bring charges alleging the sale of Ethereum as a securities transaction.
The SEC’s classification of Ethereum as a financial security prompted ConsenSys’ lawsuit, which was filed in April.
Blockchain software company claimed in the complaint Gurbir Grewal, director of the SEC’s Division of Enforcement, authorized an investigation into Ethereum 2.0 on March 28, 2023, to investigate individuals and entities buying and selling ether. Consensys reportedly received a Wells notice from the SEC in April, meaning the agency plans to take enforcement action against it.
Lubin and Consensys did not immediately respond to The Block’s request for comment.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong, and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.