SEC Announces it Closes its Investigation into Ethereum

Consensys has confirmed that the SEC is concluding its investigation into whether Ethereum is a security.

The company sent a letter to the SEC asking for confirmation after the recent approval of Ether-based Exchange-Traded Funds (ETFs), which have been classified as commodities.

This decision clears up the murky status of Ether and is a win for the cryptocurrency industry, which has faced uncertainty and potential regulations from the SEC.

Earlier this year, Consensys filed a lawsuit against the SEC to prevent it from overseeing the Ethereum blockchain, arguing that such actions would hamper innovation.