Ethereum (ETH) Trade Price Surges 3%+ in the Last 7 Hours, Following Big News About Cryptocurrency's Legal Nature

The current trade price of Ethereum (ETH), the top second-ranked crypto asset by market cap, is $3,555 which is 3% higher over the last 24 hours.

The trade price of Ethereum (ETH) has seen a 3% surge in the last 6 hours, following some الكبير news regarding the legal status of the Ethereum (ETH) cryptocurrency.

The current trade price of Ethereum (ETH), the second-largest crypto asset by market cap, is $3,555, showing a 3% increase over the last 24 hours.

#Ethereum trade price up 3%+ in the last 7 hours. pic.twitter.com/1Sq24p04um

On 19 June 2024, ConsenSys, a leading blockchain firm focused on the Ethereum ecosystem, announced a major victory for Ethereum developers, technology providers, and industry participants, following the SEC’s latest move.

ConsenSys stated that the SEC’s Enforcement Division has notified the firm that it is closing its investigation into Ethereum 2.0. This means that the SEC will not pursue charges alleging that the sales of ETH during the network’s initial launch constituted securities transactions.

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 also noted that the SEC closed its Ethereum 2.0 investigation after ConsenSys sent a letter on 7 June, requesting confirmation that the recent SEC approval of a spot ETF application for ETH—based on the conclusion that ETH is a commodity—would lead to the closure of the investigation.

The SEC highlighted that this decision is significant but does not resolve the broader issues faced by blockchain developers and industry participants under the SEC’s stringent crypto enforcement regime.

ConsenSys added that their legal battle continues, as they are seeking a declaration that MetaMask Swaps and Staking do not violate securities laws, and they criticized the need for a lawsuit to obtain the regulatory clarity that is essential for the industry’s growth.

In essence, a legal battle will continue against the SEC over Ethereum crypto-asset related services.

Ripple vs SEC

It is interesting to note that the Ripple vs SEC case is also in a similar stage, like ConsenSys vs SEC.

In the Ripple case, the court ruled that the XRP token was not a security, but the SEC is now trying to establish that the Ripple company and its executives violated securities laws in connection with the XRP cryptocurrency.

Also Read: Donald Trump to back Solana network-based meme token $DJT

News source：https://www.kdj.com/cryptocurrencies-news/articles/ethereum-eth-trade-price-surges-hours-news-cryptocurrency-legal-nature.html

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