According to the latest information, Consensys and SEC have reached an agreement to drop the MetaMask securities lawsuit, the company’s CEO Joseph Lubin said.
Announcing the settlement, Lubin stated that the SEC will file a stipulation with the court to formally close the case, pending the Commission’s approval: “I am pleased to announce that Consensys and the SEC have agreed in principle to dismiss the securities enforcement action related to MetaMask.”
MetaMask, one of the most widely used cryptocurrency wallets, became the focus of an SEC investigation in June 2023. The SEC filed a lawsuit against Consensys, alleging that the company violated securities laws through its MetaMask staking service. The lawsuit was filed in the U.S. District Court for the Eastern District of New York.
In April 2024, Consensys filed a lawsuit against the SEC over its handling of Ethereum, arguing that the agency unfairly targeted its MetaMask software. However, a judge dismissed Consensys’ lawsuit in September 2024.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/breaking-sec-agrees-to-drop-another-cryptocurrency-hostile-lawsuit-here-are-the-details/