The post it now considers Ethereum a commodity appeared on BitcoinEthereumNews.com.

It seems that the SEC has changed its mind about Ethereum, and now considers it a commodity.  That he had changed his mind about Ethereum was already clear from the moment he approved the requests for the issuance of spot ETH ETFs in May, but now another confirmation has arrived.  The renunciation of the SEC: Ethereum is a commodity In fact, last night Consensys announced on its official X profile that it has received a notification that the SEC’s Enforcement Division is closing its investigation into Ethereum 2.0. ETHEREUM SURVIVES THE SEC. Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0. This means that the SEC… — Consensys (@Consensys) June 19, 2024 This, according to Consensys, would mean that the SEC will no longer accuse those who allow the buying and selling of ETH of allowing the exchange of unregistered securities.  After the transition to Proof-of-Stake, in September 2022, the SEC had started to believe that ETH could be considered a security, given that the introduction of PoS also generates the possibility of earning simply by staking one’s tokens. However, it is not the SEC that decides what should be considered a security, and what instead a commodity, and last year a court explicitly ruled on the XRP case stating that when this cryptocurrency is traded on secondary markets (the exchanges) it cannot be considered an investment contract, and therefore not even a security. At that point, many began to think that if a court were ever forced to rule on Ethereum (ETH), it would have supported more or less the same thing, but the SEC did not want to hear about it anyway. The…

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Filed under: News - @ June 19, 2024 6:14 pm