Regulation
Consensys and US SEC Reach Agreement To Dismiss MetaMask Lawsuit
Consensys and the U.S. Securities and Exchange Commission (SEC) have reached an agreement in principle to dismiss the securities enforcement case concerning MetaMask. The resolution is subject to the approval of the Commission, after which the SEC will file a stipulation with the court to officially close the case.
Consensys and US SEC To Dismiss MetaMask Lawsuit
According to a recent filing, the case against MetaMask marks the sixth crypto-related lawsuit that the SEC has decided to back down from. Consensys, the company behind MetaMask, expressed relief at the outcome.
Joseph Lubin, CEO of Consensys, 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.”
Lubin highlighted the firm’s commitment to defending blockchain developers and emphasized the importance of the case for the wider industry. He also praised Consensys’ legal team, led by Matt Corva, for their work on the case. Lubin expressed gratitude to the SEC’s new leadership for adopting a “pro-innovation, pro-investor path” and stated that Consensys would continue to engage with policymakers.
The dismissal of the MetaMask lawsuit is part of a larger pattern, as the SEC has recently backed off from other high-profile cryptocurrency cases. Legal actions against Coinbase, OpenSea, Robinhood, and Uniswap have also been dropped. These reversals suggest a shift in the SEC’s regulatory approach toward the cryptocurrency industry.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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