coinspress.com
Consensys and the U.S. Securities and Exchange Commission (SEC) have come to an agreement to dismiss the ongoing legal dispute regarding MetaMask, according to the company’s CEO, Joseph Lubin.
Lubin shared the news of the settlement, stating that the SEC will soon submit a formal filing to the court to officially close the case.
He expressed satisfaction with the resolution, noting, “We have agreed in principle to dismiss the securities enforcement action tied to MetaMask.”
The legal battle began in June 2023 when the SEC launched an investigation into MetaMask, one of the leading cryptocurrency wallets, alleging that its staking service violated U.S. securities laws.
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This led to a lawsuit filed by the SEC in the Eastern District of New York.
Earlier, in April 2024, Consensys filed a lawsuit against the SEC, challenging its approach to Ethereum and claiming that the regulatory body unfairly targeted its MetaMask service. However, the court dismissed the case in September 2024.