According to Joseph Lubin, the CEO of Consensys Inc., the U.S. Securities and Exchange Commission has dropped its suit against Consensys.
The SEC sued Consensys last year over MetaMask. They claimed that MetaMask acted like an unregistered broker.
Lubin writes in a post to the social media platform X that Consensys has agreed with the SEC “in principle”, that the case against the SEC should be dropped.
The SEC, subject to approval by the Commission will submit a court stipulation that closes this case. The SEC was committed to fighting the case until it ended, but we are pleased with this result .”
This development coincides with the SEC’s adoption of a more tolerant stance towards crypto. Federal watchdog also ceased its civil enforcement actions against US-based Coinbase.
Lubin praises SEC’s new approach towards crypto.
We appreciate SEC leadership’s pro-investor, pro-innovation approach. Going forward, we will continue to be deeply involved with both public and private policymakers. Crypto is pushing the US government to take into account the interests of both consumers and business alike. We are on the way to achieving that goal .”
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Sources of Images include Pixabay Creative Commons & Midjourney
As new information becomes available, this post SEC set to dismiss MetaMask lawsuit after reaching agreement ‘in principle’ with Consensys CEO Joseph Lubin will be updated.
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