Consensys head of litigation Laura Brookover stated that the company will continue to challenge the SEC as the quest for regulatory clarity is "far from over."

In a June 21 CNBC interview, Brookover mentioned that although the SEC concluded its Ethereum 2.0 investigation, it did not clarify Ethereum's classification. She emphasized that Consensys would keep pushing for clearer regulations around digital assets.

Brookover also revealed that two ongoing SEC investigations are assessing whether Consensys violated securities laws through the swap and staking features of its MetaMask wallet. The SEC previously issued a Wells notice to Consensys, indicating possible enforcement actions on these issues.

Brookover commented:

"Our current plans are to continue fighting to obtain the relief we sought in the lawsuit."

Consensys aims for a declaration that the two MetaMask features do not breach securities law, as stated in its April lawsuit.

First case conclusion insufficient

The SEC ended one investigation with a June 18 letter, focusing on whether ETH is a security asset, covering Ethereum 2.0, the merge, and the transition to staking. However, Brookover noted that the letter only confirmed the agency's decision not to charge the firm and failed to provide the sought-after clarity.

Brookover remarked:

"The letter disclaims any conclusion, such as Ether being a commodity and not a security."

She added that the conclusion "doesn’t go far enough" in explaining the investigation's end and its relevance to other ongoing SEC investigations and actions.

Brookover speculated that "mounting pressure" from Congress and industry members might have influenced the SEC's decision to end the investigation but noted that the SEC provided no explanation. She also linked the SEC’s May 23 approval of spot Ethereum ETF rule changes to the agency's internal stance on ETH.

Brookover criticized the SEC’s overall approach:

"Regulation by enforcement is completely backward. There should be clarity so companies can know if their activities are lawful..."

She argued that companies currently have to wait for enforcement actions to understand the SEC’s position, calling this method "no way to regulate" the crypto industry and urged for a more collaborative approach.