{"id":19175,"date":"2024-04-30T11:30:53","date_gmt":"2024-04-30T11:30:53","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=19175"},"modified":"2024-04-30T07:27:25","modified_gmt":"2024-04-30T07:27:25","slug":"consensys-sues-sec-over-ethereum-inquiry","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/","title":{"rendered":"Consensys Sues SEC Over Ethereum Inquiry"},"content":{"rendered":"

Ethereum<\/strong> (ETH<\/a>) has been under investigation by the SEC for a year. The SEC has been researching Ethereum as a potential security since 2023.<\/p>\n

Last week, Consensys<\/a>, which is a software developer, sued the SEC, which has brought Ethereum<\/strong> into the media.\u00a0They are angry with the conduct of the SEC aimed at them, but the investigation started in early 2023.<\/p>\n

After Gurbir Grewal, the Division of Enforcement director of the SEC, gave the green light for the Ethereum<\/strong> trading investigation in March 2023, the entire thing fell apart. They moved on with subpoenas and testimony.<\/p>\n

During a Congressional hearing, Securities and Exchange Commission (SEC) Chairman Gary Gensler evaded answering whether Ethereum<\/strong> was a commodity or a security. The SEC has already started probing Ethereum<\/strong> as a security, but they were not saying it.<\/p>\n

Consensys\u2019 legal argument contains two fundamental nodes. First, they reject Ethereum\u2019s<\/strong> security status, stating that the inquiry by the SEC is unwarranted. They also point out that the SEC penalized their MetaMask product, which is intended to infer a broker-dealer relationship. A Wells warning was sent to them by the SEC, telling them, \u201cWe might come after you.\u201d<\/em> Ethereum<\/strong> is not part of this Wells drama.<\/p>\n

Ethereum<\/strong> was not the only legal dispute in 2023.\u00a0More than 10 assets were considered by the SEC as securities against Coinbase and Binance.Ethereum<\/strong> avoided that fate.<\/p>\n

Yet, in 2018, the SEC changed the melody. Bill Hinman, the former CFO, stated that ETH, similar to Bitcoin, was not a security. As of today, the SEC seems to be pondering whether the merge update of ETH Aputs it in the security category.<\/p>\n

The background of ETH is also a part of this legal dispute also includes Ethereum’s<\/strong> background. What is currently being questioned about Consensys is the proof-of-stake updates of ETH and the operations, which include acquisitions and sales. Security sales, as per the SEC, happened before the merger of ETH in 2018.<\/p>\n

To add humor to this drama, Consensys is not sleeping. What they\u2019re fighting is to keep the SEC from interfering with ETH. After the SEC Wells warning about a MetaMask wallet crackdown, they started their legal counterattack.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) has been under investigation by the SEC for a year. The SEC has been researching Ethereum as a potential security since 2023. Last week, Consensys, which is a software developer, sued the SEC, which has brought Ethereum into the media.\u00a0They are angry with the conduct of the SEC aimed at them, but the<\/p>\n","protected":false},"author":6,"featured_media":19176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[549,1770],"class_list":["post-19175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-consensys","tag-ethereum-eth"],"yoast_head":"\nConsensys Sues SEC Over Ethereum Inquiry - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Learn the latest updates on the SEC investigation into Ethereum. Discover the potential implications for the cryptocurrency market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Consensys Sues SEC Over Ethereum Inquiry - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Learn the latest updates on the SEC investigation into Ethereum. Discover the potential implications for the cryptocurrency market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-30T11:30:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-30T07:27:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"506\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/\",\"name\":\"Consensys Sues SEC Over Ethereum Inquiry - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp\",\"datePublished\":\"2024-04-30T11:30:53+00:00\",\"dateModified\":\"2024-04-30T07:27:25+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"description\":\"Learn the latest updates on the SEC investigation into Ethereum. Discover the potential implications for the cryptocurrency market.\",\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp\",\"width\":900,\"height\":506,\"caption\":\"Ethereum\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Consensys Sues SEC Over Ethereum Inquiry\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Consensys Sues SEC Over Ethereum Inquiry - Coin Engineer","description":"Learn the latest updates on the SEC investigation into Ethereum. Discover the potential implications for the cryptocurrency market.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/","og_locale":"en_US","og_type":"article","og_title":"Consensys Sues SEC Over Ethereum Inquiry - Coin Engineer","og_description":"Learn the latest updates on the SEC investigation into Ethereum. Discover the potential implications for the cryptocurrency market.","og_url":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/","og_site_name":"Coin Engineer","article_published_time":"2024-04-30T11:30:53+00:00","article_modified_time":"2024-04-30T07:27:25+00:00","og_image":[{"width":900,"height":506,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp","type":"image\/webp"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/","url":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/","name":"Consensys Sues SEC Over Ethereum Inquiry - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp","datePublished":"2024-04-30T11:30:53+00:00","dateModified":"2024-04-30T07:27:25+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"description":"Learn the latest updates on the SEC investigation into Ethereum. Discover the potential implications for the cryptocurrency market.","breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/04\/ethereum-1.webp","width":900,"height":506,"caption":"Ethereum"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/consensys-sues-sec-over-ethereum-inquiry\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Consensys Sues SEC Over Ethereum Inquiry"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/19175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=19175"}],"version-history":[{"count":1,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/19175\/revisions"}],"predecessor-version":[{"id":19177,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/19175\/revisions\/19177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/19176"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=19175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=19175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=19175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}