The U.S. Securities and Trade Fee (SEC) has agreed to drop its lawsuit in opposition to the blockchain software program agency Consensys, based on the corporate’s CEO, Joseph Lubin.
Final yr, the SEC filed a suit in opposition to Consensys over MetaMask, claiming that the favored cryptocurrency pockets acted as an unregistered securities dealer.
In a brand new submit on social media platform X, Lubin says that Consensys and the SEC have agreed “in precept” that the enforcement case must be dismissed.
“Topic to the approval of the Fee, the SEC will file a stipulation with the courtroom that successfully closes the case. We have been dedicated to preventing this swimsuit till the bitter finish however welcome this consequence.”
The event comes because the SEC adopts a friendlier stance on crypto. The federal watchdog has additionally dropped its civil enforcement motion in opposition to the US-based alternate Coinbase.
Lubin commends the SEC for altering its strategy to crypto.
“We admire the SEC’s new management and the pro-innovation, pro-investor path they’re taking. We’ll stay deeply engaged with private and non-private policymakers going ahead. Crypto needs the US to deal with one of the best pursuits of shoppers and companies alike, and we’re already on our approach to making that occur.”
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