According to Zombit’s previous report, in March this year, there was news that the U.S. Securities and Exchange Commission (SEC) was investigating Ethereum, and the Ethereum Foundation even received a subpoena from the SEC. At that time, the report pointed out that the U.S. Securities and Exchange Commission began investigating the Ethereum Foundation around September 2022, shortly after the Ethereum network transitioned to the Proof of Stake consensus mechanism (PoS).

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And just today, ConsenSys, a memory blockchain software developer, announced that the U.S. Securities and Exchange Commission (SEC) Enforcement Division has notified the company that it will end its investigation into Ethereum 2.0, which means that the SEC will not bring charges that the sale of ETH constitutes securities trading.

“This decision follows a letter we submitted to the SEC on June 7, in which we requested confirmation that the approval of an ETH ETF in May based on the premise that ETH is considered a commodity would mean the agency is closing its investigation into Ethereum 2.0.”

However, ConsenSys emphasized in the announcement that while the conclusion of the Ethereum investigation is a milestone, it is not a panacea for memory blockchain developers, technology providers, and industry participants to escape the SEC’s illegal and aggressive crypto enforcement regime.

“Our fight continues. In our litigation, we also seek confirmation that the user interface software that provides MetaMask swaps and staking does not violate securities regulations. While litigation should not normally be required to provide the regulatory clarity necessary to enable an industry that supports countless new technologies and innovations to grow and prosper, this is the reality.”