Ethereum

Reserve

DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-closes-ether-investigation" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Closes Ether Investigation</a><br></p>
<p style="text-align: justify">Bitcoin’s price has plummeted as investors adopt a cautious stance following recent U.S. economic data and Federal Reserve <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">announcements</a>. The cryptocurrency nearly shed $9,000, rapidly declining from a peak of $72,000. Altcoins faced even steeper losses, with some experiencing drops of up to 30%. However, is the situation as dire as it seems?</p>
<h2 id="what-is-the-future-of-cryptocurrencies">What is the Future of Cryptocurrencies?</h2>
<p style="text-align: justify">A notable development could positively affect the short and medium-term future of the crypto market. The SEC has officially closed its investigation into Ether, which began on June 19. This significant update was shared by Consensys lawyer Laura Brookover on social media and confirmed by Carol Goforth, a law professor at the University of Arkansas. Though the investigation has ended, it does not mark a final decision for the Ethereum ecosystem.</p>
<p style="text-align: justify">Conor O’Neill suggests that this move will set a global precedent for regulators, potentially easing the intense regulatory pressure on Ethereum and similar altcoins. He emphasized that, barring any catastrophic events, the decision could positively impact Ethereum’s price in the long term.</p>
<h2 id="will-altcoins-experience-a-surge">Will Altcoins Experience a Surge?</h2>
<p style="text-align: justify">The SEC has previously labeled multiple altcoins—such as <a href="https://en.bitcoinhaber.net/solana-surges-towards-150-milestone" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana</a>, Cardano, and Polygon—as securities, suing exchanges for selling them without authorization. However, this latest decision forces the SEC to differentiate these altcoins from Ethereum or reconsider the Howey test. The test had previously categorized Ether as a security as well.</p>
<p style="text-align: justify">O’Neill notes that initiatives in the DeFi sector and Ethereum layer-2 solutions can now operate with greater ease due to the SEC’s withdrawal. Many of these projects offer staking services and maintain strong ties to Ethereum, further benefiting from this regulatory shift.</p>
<h2 id="concrete-implications-for-investors">Concrete Implications for Investors</h2>
<p style="text-align: justify">• The closure of the Ether investigation by the SEC could positively influence Ethereum’s price.<br> • Altcoins, previously under regulatory scrutiny, might see a relief rally.<br> • DeFi projects and Ethereum layer-2 solutions can potentially expand with fewer regulatory hurdles.<br> • Investors should watch for further regulatory updates and Fed interest rate decisions for market impact.</p>
<p style="text-align: justify">In conclusion, although recent <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a> appear challenging, the closing of the SEC’s Ether investigation and favorable outcomes from other exchange-related probes could trigger a robust recovery for cryptocurrencies. Additionally, anticipated interest rate cuts by the Fed later this year could further bolster the market.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-closes-ether-investigation" data-wpel-link="internal" rel="noopener noreferrer nofollow">SEC Closes Ether Investigation</a></h5>

SEC Closes Ether Investigation

Table of Contents

BH NEWS

Other articles published on Jun 21, 2024

Next big memecoin: New layer-2 memecoin launches presale

Ripple and SEC Developments Affect XRP Price

U.S. Lawmakers Visit Jailed Binance Exec in Nigeria

Ripple Wins Class Action Lawsuit

🚀 Weekly HODL Roundup: June 10–June 16, 2024 🌟

Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25%

Join our free newsletter for daily crypto updates!