(Reuters) – The U.S. Securities and Exchange Commission has closed its investigation into the Blockchain 2.0 protocol, cryptocurrency company ConsenSys said in a post on social media platform X late on Tuesday.
The company filed a lawsuit seeking an injunction against the US Securities and Exchange Commission in April over regulation of the Ethereum blockchain.
Consensys founder Joseph Lubin said on Wednesday that the SEC's decision to close the investigation represents a “huge victory” for Ethereum.
“While we welcome this development, it is not enough. We must remain vigilant and continue to advocate for clear and fair regulations that enable innovation to flourish,” Lubin, who also co-founded the cryptocurrency Ether, said in a post on X.
Consensys said it will pursue the lawsuit seeking a court ruling that the SEC does not have legal authority to regulate user-controlled software interfaces built on Ethereum or the Ethereum blockchain.
An SEC spokesman said the SEC does not comment on the presence or absence of a potential investigation.
Last month, the Securities and Exchange Commission (SEC) approved applications from Nasdaq, CBOE, and NYSE to list Ethereum ETFs. It was a surprise win for the cryptocurrency industry, which had been expecting the SEC to reject the filings.