SEC Cancels Case on MetaMask
Joseph Lubin, the CEO of Consensys and a co-founder of Ethereum declared that the U.S. Securities and Exchange Commission (SEC) and Consensys have reached a preliminary agreement to drop the securities enforcement case against MetaMask.
The case, focused on MetaMask is anticipated to be officially closed after the financial watchdog approves it.
Lubin took to X to say that he was happy with the resolution and that it was a good step for blockchain software developers, even though Consensys was ready to fight the case to the end.
The regulatory agency has concluded its investigations into OpenSea, Robinhood, Uniswap, and Gemini and withdrawn its lawsuit against Coinbase.
These steps were taken one month after SEC Chair Gary Gensler resigned on January 20. The Commission took a tough stance on regulating cryptocurrencies under Gensler’s direction, asserting that the majority of digital tokens ought to be categorized as securities.
The securities watchdog accused cryptocurrency companies of offering unregistered securities, leading to numerous legal actions against them because of the regulatory stance.
According to Lubin, the SEC stopped its investigation into Ethereum because of the company’s lawsuit against the agency, which sought to keep Ethereum from being the subject of enforcement actions.
“A stronger financial system and internet infrastructure are the goals of every legal and policy victory,” according to Lubin.
Lubin voiced gratitude for the SEC’s new leadership and the agency’s apparent change to a more “pro-innovation” and “pro-investor” position as it looks to the future.
“Throughout the future, we will continue to have close contact with public and private policymakers.” He added. “We can now return to the building in full force. 2025 is expected to be Ethereum and Consensys’ best year to date. The world’s paradigm shift toward greater decentralization is speeding up. “
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