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The SEC has officially concluded its case against Consensys, affirming that the MetaMask wallet does not infringe upon securities laws.
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CEO Joseph Lubin lauded the SEC’s evolving leadership and their commitment to fostering innovation within the cryptocurrency sector.
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In a significant twist, a confidential SEC meeting has fueled speculation regarding a potential resolution in the ongoing Ripple lawsuit.
The SEC drops the case against Consensys, signaling a new approach towards crypto regulations, as the industry awaits Ripple case updates.
MetaMask and Coinbase Bury the Hatchet with the SEC
As the SEC continues to adjust its enforcement stance, it has dropped significant lawsuits against major players like Coinbase and is now winding down its action against Consensys, focusing on the MetaMask wallet.
“I’m pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed. Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case,” stated Joseph Lubin, founder of Consensys.
Initially facing potential securities violations, MetaMask has come through this scrutiny as the SEC recognizes the need for a more supportive regulatory environment for innovation in cryptocurrency.
While this development marks a potential shift towards collaboration between the SEC and crypto firms, not all players have had similarly amicable experiences. For instance, Gemini’s recent investigation ended abruptly, highlighting a mixed landscape of regulatory interactions.