SEC to Drop Lawsuit Against Consensys, Ethereum Software Firm

The U.S. Securities and Exchange Commission (SEC) has tentatively agreed to drop its lawsuit against Consensys, the Ethereum software firm behind MetaMask, according to an announcement made by Consensys founder Joseph Lubin on Thursday. The lawsuit, initiated in June 2024, alleged that certain aspects of MetaMask violated securities laws. The SEC's decision to file a motion to end the case is pending final approval from the commission. Consensys had previously sued the SEC in April 2024 over plans to regulate Ether as a security. The SEC's move follows a series of dropped enforcement actions against other crypto firms, including Uniswap, Robinhood Crypto, and Gemini.