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International Business Times
International Business Times
Business
Marvie Basilan

SEC Drops Investigation Into Ethereum, But Hints It's Not The End

SEC ConsenSys Ethereum Gary Gensler blockchain Lark Davis
Consensys revealed in April that the SEC launched an investigation into Ethereum last year over Ether's status as a security. (Credit: IBTimes US)

KEY POINTS

  • Consensys said the decision means the SEC will no longer allege that ETH sales are securities transactions
  • Ether's price spiked from $3,400 to $3,500 early on Wednesday following the news
  • Consensys sued SEC in April, alleging the regulator deemed ETH a security since last year

Blockchain technology firm Consensys, which revealed in a legal filing in April that the U.S. Securities and Exchange Commission (SEC) had deemed Ether (ETH) a security since March last year, said Tuesday that the regulatory agency has closed its investigation into the Ethereum blockchain.

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