The U.S. Securities and Exchange Commission (SEC) continues the crypto-related case dismissal trend, reportedly preparing papers to drop the Consensys lawsuit. The maker of MetaMask, the largest decentralized finance (DeFi) wallet provider, initially got into Gary Genslerโs hair for allegedly operating as an unregistered broker.
โBest Yearโ For Ethereum & MetaMask?
Following the news, Consensys CEO Joseph Lubin chimed in to express his relief over the situation, remarking that Consensys โwere committed to fighting this suit until the bitter end but welcome this outcome.โ The co-founder of both Ethereum (ETH) and Consensys, Mr. Lubin strives to โget 100% back to buildingโ, assured that 2025 is going to be the best year for the two crypto giants.
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This marks the sixth case against crypto companies dropped by the SEC in recent few weeks, with this one coming just a few hours after The U.S. Securities and Exchange Commission (SEC) decided to reach an agreement with TRON & Gemini, signaling a major positive shift for global crypto regulation.
Amidst the positive regulatory outcome, the largest altcoin Ethereum (ETH) picked up micro gains to trade above the $2,300 support line. As of press time, Ether (ETH) is priced at $2,329, trading in a narrow channel between $2,265 and $2,376 for the past 24 hours. With the 1-hour charts displaying narrowing Bollinger Bands, thereโs a high chance of further consolidation.
On The Flipside
- The regulatory pivot started in mid 2024, when the U.S. Securities and Exchange Commission (SEC) dropped their Ethereum (ETH) investigation.
- According to MetaMask & Consensys lawyer team, SEC Chair Gary Gensler made comments about Ether (ETH) not being a security back in 2018.
Why This Matters
The new term of office at the SEC distanced themselves from the previous teamโs decisions, looking to find a compromise with the biggest names in the blockchain industry.
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