Key Takeaways
- The securities watchdog has agreed to drop the lawsuit it brought against Consensys in June 2024.
- The crypto firm is eager to return their full focus to building and developing their technology.
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Consensys and the Securities and Exchange Commission (SEC) have reached an agreement to dismiss the enforcement case concerning MetaMask, pending Commission approval, Consensys’ founder Joseph Lubin announced today.
I’m pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed. Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case.…
— Joseph Lubin (@ethereumJoseph) February 27, 2025
The SEC will file a stipulation with the court to close the case effectively. “We were committed to fighting this suit until the bitter end but welcome this outcome,” the Consensys founder stated.
“No company wants to be the target of agency enforcement, but at the same time, it was our duty and honor to stand up for blockchain software developers in the hour it was most needed,” he said, noting that the company had previously sued the SEC when Ethereum became a target, which led to the SEC dropping their Ethereum investigation.
“We appreciate the SEC’s new leadership and the pro-innovation, pro-investor path they are taking,” the founder added. He emphasized that the crypto industry seeks US policies that address both consumer and business interests.
The company plans to focus on development moving forward. “Now we can get 100% back to building. 2025 is going to be the best year yet for Ethereum and Consensys,” the founder said.
Last June, the SEC brought an enforcement action against Consensys in federal court in the Eastern District of New York, alleging that Consensys violated federal securities laws through its MetaMask software.
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