(Reuters) -The U.S. Securities and Alternate Fee has closed its investigation into the blockchain protocol 2.0, cryptocurrency agency Consensys mentioned in a submit on social media platform X late on Tuesday.

The agency filed a lawsuit searching for an injunction in opposition to the U.S. SEC in April over regulation of the Ethereum blockchain.

Consensys founder Joseph Lubin mentioned on Wednesday that the SEC’s determination to shut the inquiry marked “a significant victory” for Ethereum.

“While we welcome this development, it’s not enough. We must remain vigilant and continue advocating for clear and fair regulations that enable innovation to flourish,” Lubin, who additionally co-founded the cryptocurrency ether, mentioned in a submit on X.

Consensys mentioned it can proceed its lawsuit in pursuit of a courtroom ruling that the SEC doesn’t have authorized authority to control the user-controlled software program interfaces constructed on Ethereum or the Ethereum blockchain.

An SEC spokesperson mentioned the fee doesn’t touch upon the existence or nonexistence of a doable investigation.

The SEC final month accredited purposes from Nasdaq, CBOE and NYSE to record spot ether ETFs. It was a shock win for the cryptocurrency trade which had anticipated the SEC to reject the filings.