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SEC DROPS ETHEREUM CASE: AN IMPORTANT TURNING POINT FOR THE CRYPTO MARKET❗️
#GateOpinionQuest
#CryptoObservers
The U.S. Securities and Exchange Commission (SEC) has ended the lawsuit regarding the classification of Ethereum 2.0 as a security. According to Consensys, this decision paves the way for Ethereum to be recognized as a commodity. Previously, the SEC had claimed that ETH sales were unregistered securities transactions.
The decentralized nature of Ethereum and the approved spot Ethereum ETFs in May 2024 demonstrated that ETH is not a security. While this decision is seen as a victory for the Ethereum community, it highlights the need for clearer regulations in staking and DeFi sectors.
🔥🔥🔥 This development could signal the beginning of a new regulatory framework for Ethereum and the crypto world‼️
#elg #How will September’s market perform after August’s volatility? #escoin
References
1. Decrypt. "SEC Is Dropping Its Investigation Into Ethereum, Consensys Says." Access: September 4, 2024.
2. Crypto Briefing. "SEC Closes Investigation into Ethereum 2.0, No Securities Charges Against ETH: Consensys." Accessed: September 4, 2024.
3. The Paypers. “SEC Drops Ethereum 2.0 Investigation After Lawsuit.” Access: September 4, 2024.