The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Ethereum, leading to a rally in ETH and altcoins. This move has sparked speculation about the commodity status of other proof-of-stake (PoS) cryptocurrencies like Solana, Cardano, and Polygon.
The SEC’s decision put a spotlight on these PoS cryptos, even as it alleged them as securities in various lawsuits. Former SEC lawyer Marc Fagel noted that Ethereum’s status doesn’t necessarily apply to other PoS projects.
Consensys revealed that the SEC closed its investigation into Ethereum 2.0, viewing it as a win for developers and industry participants. Despite this, Consensys plans to continue challenging the SEC to confirm that offerings like MetaMask Swaps do not violate securities laws.
This closure is significant as it provides regulatory clarity for Ethereum, possibly influencing future regulatory decisions for other PoS cryptocurrencies.
