SEC agrees to drop Consensys lawsuit
The SEC is dropping its enforcement actions against crypto firms in an apparent regulatory pivot following new leadership at the regulator.
The US Securities and Exchange Commission has agreed in principle to drop its lawsuit against crypto firm Consensys. The suit claimed that aspects of MetaMask violated securities laws.
According to Ethereum co-founder and Conensys founder Joseph Lubin, the SEC has agreed to file a motion effectively ending the case, and the conclusion of the litigation is still subject to final approval from the commission. Lubin added:
Consensys was sued by the SEC in June 2024. The agency alleged that the company made more than $250 million in fees by offering staking services and digital asset swaps through MetaMask.