- Consensys Lawsuit Against SEC Dropped
- SEC Asks Court for More Time in Coinbase Lawsuit
- Judge Approves Terraform Labs Bankruptcy Plan
On September 19, a Texas federal judge dismissed the lawsuit filed by Consensys against the US Securities and Exchange Commission (SEC) and its five commissioners, including Chairman Gary Gensler.
Consensys Lawsuit Against SEC Dropped
Judge Reed O’Connor ruled to dismiss the lawsuit, which was filed in April 2023 and sought a court declaration that Ethereum is not a security and that Consensys’ sales of ETH do not involve securities. The judge dismissed claims related to MetaMask, stating that enforcement actions do not qualify as final agency actions. Consensys expressed its disappointment with the procedural dismissal and confirmed its intent to continue challenging the SEC's lawsuit regarding MetaMask.
SEC Asks Court for More Time in Coinbase Lawsuit
The SEC has requested an extension until February 2025 to produce hundreds of thousands of documents in its case against Coinbase. The original deadline was set for October 18. This request followed a partial victory for Coinbase in a motion to compel discovery about the application of securities laws to tokens.
Judge Approves Terraform Labs Bankruptcy Plan
A US bankruptcy judge has approved the winding down of Terraform Labs as part of the company’s Chapter 11 bankruptcy plan. This follows an April 2024 ruling that found Terraform and its founder Do Kwon guilty of fraud and ordered them to pay $4.5 billion in fines and civil penalties to the SEC.
These events highlight the ongoing legal battles within the crypto industry and regulatory efforts to establish control over digital assets.
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