The American Securities and Exchange (SEC) commission abandons another case against an American cryptography company, while the regulator continues its strategic retirement of the so-called “application regulation” of the cryptographic regulation which it adopted under the leadership of former President Gary Gensler.
Joe Lubin, CEO of the Crypto Software Company based in Brooklyn, said in a post Thursday X that the SEC had agreed to delete its case in application of securities against the metamask portfolio tool of consensys. As the agency’s decision to abandon its file against Crypto Exchange Coinbase, which was announced last week, the decision must first be approved by the agency’s commissioners.
“We are committed to fighting this costume until the bitter end, but we welcome this result. No company wants to be the objective of the application of agencies, but at the same time, it was our duty and our honor to defend blockchain software developers at the most necessary, because I am sure that our peers of the industry who also defended the regulatory overtaking you would tell you, “wrote Lubin.
The SEC continued its consensys on Metamask last June, alleging that the popular portfolio tool was an unregistered securities broker who “engaged in the offer and sale of securities”. The prosecution occurred about two weeks after the SEC lit the consensys according to which he would close his probe on Ethereum 2.0, whose consensys had previously continued the regulator in April 2024, citing regulatory overtaking.
The SEC decision to remove its law pursuit of the law against consensys is the last in a series of abandoned cases and surveys on crypto societies, notably Gemini, Robinhood Crypto, Uniswap Labs, Opensea and Coinbase. He also asked the courts to suspend the current affairs against Binance and the Tron Foundation, as well as their affiliated companies and managers.
The agency is currently revealing its approach to the regulation of cryptography under the new management of the acting president Mark Uyeda, who created a working group in crypto – led by the friendly commissioner Hester Peirce – just a day after the departure of peopleler. In a press release earlier this month, Peirce presented the dry roadmap for cryptography regulations and urged businesses to be patient while the agency understood how to “disentangle” from the current disputes.
“We appreciate the new leadership of the dry and the pro-innovation and pro-investor path they take,” wrote Lubin. “We will remain deeply engaged with public and private decision -makers in the future. Crypto wants the United States to take care of the best interests of consumers and businesses, and we are already about to achieve this. »»
SEC refused to comment.
