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SEC Withdraws Lawsuit Against Consensys Over MetaMask

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by Giorgi Kostiuk

3 hours ago


The United States Securities and Exchange Commission (SEC) has decided to drop its lawsuit against crypto firm Consensys, which accused MetaMask of violating securities laws.

The Lawsuit Against Consensys

The SEC sued Consensys in June 2024, alleging that the company made over $250 million in fees by offering staking services and digital asset swaps through MetaMask.

Consensys' Response to the SEC

In April 2024, Consensys filed a lawsuit against the SEC over its plans to regulate Ether as a security. The company's lawyers argued this could criminalize ETH transactions. Founder Joe Lubin attributed the dropped investigation to their legal response.

Now we can get 100% back to building. 2025 is going to be the best year yet for Ethereum and Consensys. The paradigm shift to a much more decentralized world is accelerating.Joseph Lubin

Implications for the Crypto Industry

The SEC's decision to drop the Consensys lawsuit is part of a series of dropped actions against crypto firms like Uniswap, Robinhood Crypto, and Gemini. This may influence the perception of regulation in the crypto industry.

The SEC's decision to drop the lawsuit against Consensys could significantly impact future cryptocurrency regulation, highlighting the importance of legal defense in this area.

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