Key takeout
Securities Watchdog has agreed to cease the lawsuit brought against Consency in June 2024. Crypto companies want to focus entirely on building and developing technology.
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Consensys, developer of Metamask, has reached an agreement “in principle” with the US SEC to dismiss an enforcement lawsuit against the popular Crypto Wallet, Consensy founder Josephulvin announced today. The lawsuit will be formally closed upon approval by the SEC Committee.
We are pleased to announce that, in principle, Consensys and the SEC should dismiss the securities enforcement case relating to MetaMask. Subject to the approval of the committee, the SEC will submit provisions to the court that effectively closes the case.
– Joseph Rubin (@ethereumjoseph) February 27, 2025
Last June, the SEC filed a lawsuit against Consensey, accusing the company of unregistered securities sales and securities companies via MetaMask Services. Regulators also alleged that companies are selling lido and rocket pool staking programs, and that tokens are considered securities, which further contribute to the company’s violations.
This lawsuit came after Consensey I had it In April, it filed a preemptive lawsuit against the SEC, seeking declarative judgment regarding Ethereum and its meta mask products. Ten days before sue Consensys, the SEC concluded its investigation into Ethereum 2.0 Don’t take anything Enforcement action.
“We have committed to fighting this lawsuit until the bitter end, and we welcome the outcome,” Rubin said.
“While no company wants to be targeted for government enforcement, it has been our duty and honor to stand up to blockchain software developers at the most needed time,” he said.
“We are grateful for the new leadership of the SEC and the pass of pro-investigators they are taking,” Rubin added. He emphasized that the crypto industry is seeking US policies that address both consumer and business interests.
The company plans to focus on future developments. “Now we can bring 100% back into the building. 2025 will be the best year ever for Ethereum and Consensy,” the founder said.
SEC moves to case resolution
The latest developments in the SEC vs. Consensys case have followed the pattern of SEC drop cases for several crypto companies in recent weeks. Last week, SEC and Coinbase An agreement has been reached Dismisses lawsuits against the crypto exchange.
The SEC has also stopped investigating Opensea, Uniswap Labs and Robinhood Crypto.
Yesterday, Securities Watchdog officially closed its Gemini investigation and will not pursue enforcement action.
The SEC is investigating a potential settlement with Justin San, The founder of Tron, In a civil fraud case. The suit includes claims of unregistered securities sales and market manipulation. Both sides requested 60 days Suspends due to legal procedures Negotiate a solution.
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