The United States Securities and Exchange Commission is dropping its investigation into whether Ether ( ETH ) is a security, Ethereum developer Consensys said Wednesday.
“The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0,” the firm said in a June 19 X post .
“This means that the SEC will not bring charges alleging that sales of ETH are securities transactions,” which it hailed as a “major win for Ethereum developers, technology providers, and industry participants.”
The SEC did not immediately respond to a request for comment.
Related: SEC chair sees spot Ether ETF S-1 approvals sometime in summer 2024
In March, Fortune reported the SEC issued subpoenas to multiple companies which was related to attempts to label ETH as a security.
Consensys sued the SEC in April, alleging the regulator planned “to seize control over the future of cryptocurrency,” which it said was still on in its latest post.
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