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Investing.com - The ETH/USD token has risen on rumors that the regulator - the SEC - will stop investigating the blockchain, which will weaken control over its ecosystem, writes Bloomberg. An SEC investigation into the Ethereum Foundation's ETH blockchain has revealed uncertainty over whether the token is an unregistered security, potentially reducing demand for the digital asset. The ETH developer announced that the SEC's enforcement division has notified that it has closed its investigation into the Ethereum 2.0 blockchain. In early June, blockchain developers sent a letter asking the SEC to confirm that May's approval of ETH-ETFs based on ETH being a commodity meant the agency would close its investigation into Ethereum 2.0. However, SEC Commissioner Gary Gensler has been ambivalent about whether Ethereum is a security, raising concerns that the token and projects based on its blockchain are subject to the agency's strict and costly rules.
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