Last week, Consensys on a X.Com platform posted that the SEC had closed its investigation into Ethereum 2.0 protocol. This comes after Consensys filed a lawsuit against the SEC on April 14, 2024 seeking a among other things a declaration that ETH is not a security, that any any enforcement action against Consensys based on ETH being a security or ETH transactions being securities transactions would violate due process and fair notice. Consensys founder Joseph Lubin said on Wednesday that the SEC’s decision to close the inquiry marked “a significant victory” for Ethereum. This is an interesting development in light of the SEC’s 2023 complaint against Kraken claiming that staking-as-a-service program offered by Kraken, which included ETH staking, also violates securities laws. It is possible that staking-as-a-service for ETH is outside of the securities laws application because ETH is not considered a security any more and staking would not be understood as selling a security.