Ethereum

Hope

Gary

Recently there's news regarding <a href="https://www.coingabbar.com/en/crypto-currency-news/secs-chief-tags-eth-as-unregistered-security" title="SEC Chief Gary Gensler" class="f-link" style="font-size: 16px; background-color: rgb(255, 255, 255);" rel="noopener noreferrer nofollow">SEC Chief Gary Gensler</a> accusing Ethereum, an unregistered security. The SEC Chief Gensler stated that Ethereum trades unlawfully according to federal laws. He also presented documents regarding it. This leads to an investigation referred to as Ethereum 2.0.
On 7th June, there was a turning point in the investigation after Consensys sent a letter to the SEC requesting the termination of the investigation since the SEC had recently approved <a href="https://www.coingabbar.com/en/crypto-currency-news/spot-ether-etf-gets-approval" title="spot Ether ETFs" class="f-link" rel="noopener noreferrer nofollow">spot Ether ETFs</a> in May. Consensys argued that this approval was based on ETH being classified as a commodity rather than a security.
On 19th June, there was other news information where the SEC calls off the investigation of whether Ethereum is an unregistered security. There are no more formalities from SEC as from now Ethereum is a registered Security.
<h3 style="text-align: justify;" id="span-span-data-font-font-size-style-font-size-16px-blockcircle-partner-and-community-lead-words-on-ethereum-span-span">Blockcircle partner and community lead words on Ethereum</h3>
Conor O'Neill views the SEC's decision to end its Ethereum investigation as highly positive. He believes this removes a major regulatory barrier for Ethereum and sets a significant precedent globally. He expects the Ethereum price to increase substantially, barring any catastrophic world events. He predicts Ethereum will follow a similar trajectory to Bitcoin's price with an initial dip followed by an exponential rise. However, O'Neill cautions that if the SEC maintains tight control over digital assets and opposes staking, it could harm Ethereum's long-term performance as an institutional asset. The approval of spot Ethereum ETFs, expected to launch on July 2, is likely to have a significant impact on ETH's price.&nbsp;
<h4>Impact on other Altcoins and crypto markets&nbsp;</h4>
This decision could boost overall confidence in the crypto market, potentially leading to increased investment across various cryptocurrencies. It may also create a precedent for how other regulators view other blockchain platforms and their native tokens, which could be beneficial for similar projects like Ethereum.
The SEC’s retreat could be beneficial to Projects in the decentralized finance (DeFi) industry and Layer-2 solutions on Ethereum like Aave, Chainlink, Arbitrum, Optimism, or Base could attract more attention and investments. However, many of these provide staking services and could also attract the attention of the SEC.
The decision could also provide some regulatory clarity, which could encourage more institutional investors to enter the crypto market, benefiting established altcoins. As regulatory clarity improves, there may be a clearer distinction between compliant and non-compliant cryptocurrencies, affecting their market performance.
In the past, when such significant cryptos as Ethereum rise, it tends to Uplift other altcoins as Bitcoin does for the entire crypto market and vice versa. This decision could mean a shift in the SEC’s stance on cryptocurrencies which would affect other cases against other altcoins that are considered securities such as Solana, Cardano, and Polygon among others.
Nevertheless, it is crucial to understand that this decision is rather a positive one for the crypto market, but it does not mean that every altcoin will have favorable regulation and high performance. It will all depend on the characteristics of the altcoin and its actual application. As per CoinGabbar, the SEC’s decision to close the Ethereum investigation case and the approval of spot Ethereum ETFs are significant for Ethereum, other Altcoins, and the cryptocurrency market as a whole.&nbsp;
Also Read: <a href="https://www.coingabbar.com/en/crypto-currency-news/unmasking-the-dollar12-billion-crypto-scandal-by-fca" title="FCA Leaves No Stone In $1.2B Illegal Crypto Exchange Case" class="f-link" rel="noopener noreferrer nofollow">FCA Leaves No Stone In $1.2B Illegal Crypto Exchange Case</a>

SEC's Ethereum Decision Injects Hope In Altcoin Investors

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