SEC intends to withdraw enforcement lawsuit against ConsenSys and its MetaMask

According to CoinDesk, the US Securities and Exchange Commission (SEC) plans to withdraw the enforcement lawsuit against ConsenSys' wallet tool MetaMask. ConsenSys CEO Joe Lubin stated on X platform that the case requires approval from SEC commissioners, but the company welcomes this decision and emphasizes that it is prepared for long-term resistance. The SEC sued ConsenSys in June 2024, accusing MetaMask of being an unregistered securities broker and suspected of illegally providing securities trading services. Prior to this, the SEC had concluded its investigation into Ethereum 2.0. The withdrawal of the lawsuit is the latest move by the SEC to adjust its cryptocurrency regulatory strategy under the leadership of new acting chairman Mark Uyeda. Previously, the SEC had withdrawn related cases against Coinbase, Gemini, Robinhood Crypto, Uniswap Labs, and OpenSea, and suspended lawsuits against Binance and the Tron Foundation. Lubin stated that he recognizes the SEC's new leadership's "pro innovation, heavy investor" approach and will continue to collaborate with policymakers to promote the development of the US cryptocurrency industry.