Consensys, the Ethereum software company behind the popular wallet Metamask, announced on Thursday that the Securities and Exchange Commission has in principle agreed to request a rejection of its lawsuit against the company. (Disclosure: Consensys is one of the 22 investors in an editorial independent Decrypt.)
Joe Lubin, the founder and CEO of the company and also the co-founder of Ethereum himself, wrote on x Thursday that pending the approval of the commissioner, the SEC said that it will submit it to the court to terminate the case.
“We were committed to fighting this suit to the bitter end, but welcomed this result,” wrote Lubin. “No company wants to be the target of the agency’s enforcement, but at the same time it was our duty and honor to stand up for blockchain software developers in the hour it was most necessary, because I am sure that our colleagues from the industry who also came up against legal overshall” would tell you. “
The announcement comes after several other SEC steps in the past week to put an end to investigations or lawsuits against crypto companies, including Coinbase, Robinhood, Uniswap Labs and OpenSea.
Note from the editors: This story breaks and is updated with additional details.
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