(Reuters) -The U.S. Securities and Alternate Fee has closed its investigation into the blockchain protocol Ethereum 2.0, cryptocurrency firm Consensys stated in a publish on social media platform X late on Tuesday.
The firm filed a lawsuit looking for an injunction towards the U.S. SEC in April over regulation of the Ethereum blockchain.
Consensys founder Joseph Lubin stated on Wednesday that the SEC’s determination to shut the inquiry marked “a big victory” for Ethereum.
“Whereas we welcome this improvement, it isn’t sufficient. We should stay vigilant and proceed advocating for clear and honest laws that allow innovation to flourish,” Lubin, who additionally co-founded the cryptocurrency ether, stated in a publish on X.
Consensys stated it should proceed its lawsuit in pursuit of a court docket ruling that the SEC doesn’t have authorized authority to control the user-controlled software program interfaces constructed on Ethereum or the Ethereum blockchain.
An SEC spokesperson stated the fee doesn’t touch upon the existence or nonexistence of a potential investigation.
The SEC final month accepted functions from Nasdaq, CBOE and NYSE to record spot ether ETFs. It was a shock win for the cryptocurrency trade which had anticipated the SEC to reject the filings.
(Reporting by Bhanvi Satija in Bengaluru; Modifying by Cynthia Osterman and Chris Reese)