- Consensys has reached an agreement with the SEC, leading to the dismissal of its enforcement case.
- The SEC has been dropping multiple crypto cases, including those against Coinbase, OpenSea, and Gemini.
- Consensys founder Joseph Lubin says the company is now focused on building, calling 2025 a big year for Ethereum.
Consensys, the team behind MetaMask, has reached an “in principle” agreement with the U.S. SEC to dismiss its enforcement case, according to founder Joseph Lubin.
The case, which accused Consensys of selling unregistered securities and offering brokerage services via MetaMask, will be formally closed upon approval by the SEC Commission.
Consensys vs. SEC—A Legal Battle That Turned the Tide
The SEC lawsuit, filed last June, alleged that:
- Consensys facilitated securities sales through MetaMask’s staking services with Lido and Rocket Pool.
- The company was operating as an unregistered broker, making it non-compliant with U.S. regulations.
- This came after Consensys sued the SEC first, in April 2024, seeking clarity on Ethereum’s legal status.
Lubin didn’t hold back in his response:
“We were committed to fighting this suit until the bitter end, but welcome this outcome.”
He also praised the SEC’s new leadership, stating that the regulator is now taking a “pro-innovation, pro-investor” approach that balances consumer and business interests.
SEC is Dropping Cases Across the Crypto Industry
Consensys isn’t the only crypto company getting relief—the SEC has been rapidly closing investigations and lawsuits in recent weeks.
- Last week, the SEC dismissed its lawsuit against Coinbase.
- Investigations into OpenSea, Uniswap Labs, and Robinhood Crypto have also been dropped.
- Gemini’s case was officially closed yesterday, marking another win for the crypto industry.
- Even Justin Sun, founder of TRON, is negotiating a settlement in his civil fraud case.
Lubin is ready to move forward—and so is Consensys.
“Now we can get 100% back to building. 2025 is going to be the best year yet for Ethereum and Consensys.”
With the SEC shifting gears, crypto firms are finally seeing regulatory clarity, and the industry may be entering a new era of growth.
