The U.S. Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against the blockchain software firm Consensys, according to the company’s CEO, Joseph Lubin.
Last year, the SEC filed a suit against Consensys over MetaMask, claiming that the popular cryptocurrency wallet acted as an unregistered securities broker.
In a new post on social media platform X, Lubin says that Consensys and the SEC have agreed “in principle” that the enforcement case should be dismissed.
“Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case. We were committed to fighting this suit until the bitter end but welcome this outcome.”
The development comes as the SEC adopts a friendlier stance on crypto. The federal watchdog has also dropped its civil enforcement action against the US-based exchange Coinbase.
Lubin commends the SEC for changing its approach to crypto.
“We appreciate the SEC’s new leadership and the pro-innovation, pro-investor path they are taking. We will remain deeply engaged with public and private policymakers going forward. Crypto wants the US to address the best interests of consumers and businesses alike, and we are already on our way to making that happen.”
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
