SEC is scheduled to reject the Metamask suit after reaching an agreement “in principle” with Consensys: CEO Joseph Lubin
The US Securities and Stock Exchange Committee (SEC) has agreed to drop a lawsuit against the Blockchain software company, according to the company’s president, Joseph Lubin.
Last year, SEC filed a lawsuit against Consensys on Metamask, claiming that the popular cryptocurrency portfolio was a broker for unregistered securities.
In a new post on the social media platform X, Lubin He says These Conssysys and SEC have agreed in principle to be rejected by the issue of enforcement.
“Taking into account the approval of the committee, the Securities and Stock Exchange will present a condition to the court that effectively closes the case. We were committed to fighting this lawsuit until the bitter end, but we welcome this result.”
The development comes at a time when SEC adopts a more friendly position on encryption. The International Federal Energy Agency also dropped its civil enforcement measures against Coinbase in the United States.
Lubin praises the Supreme Education Council to change its encryption approach.
“We appreciate the new SEC leadership and the pro -enrollment of investment they take. We will remain in depth with public and private policy makers to move forward. Crypto from the United States wants to address the best interests of consumers and companies alike, and we are already on our way to achieve this.”
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