In a significant legal development, a judge has dismissed ConsenSys’ lawsuit against the U.S. Securities and Exchange Commission (SEC) and its Chairman Gary Gensler.
The blockchain and web3 software company filed a lawsuit on April 25, 2024, challenging the SEC’s attempt to regulate Ethereum and its native coin Ethereum (ETH), which ConsenSys argued could seriously impact blockchain’s role as a foundation for web3 technologies.
ConsenSys, a major player in the Ethereum ecosystem and the company behind popular products like the MetaMask wallet, filed a lawsuit to block the SEC from classifying ETH as a security. The company argued that the SEC’s regulatory approach was unlawful and could hinder Ethereum’s development in the U.S. and halt technological innovations in various industries that rely on blockchain.
*This is not investment advice.
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Source: https://en.bitcoinsistemi.com/breaking-judge-dismisses-consensys-lawsuit-against-sec-and-gary-gensler/