The American Securities and Exchange (SEC) commission agreed in principle to reject its case of applying securities against consensys, according to a February 27 statement.
Once the final approvals is secure, the SEC will file a stipulation from the court to officially close the case. The resolution follows the commitment of consensys to contest the allegations.
CEO of consensys Joseph Lubin said that the dismissal, which is still in the process of final approvals, concludes the dispute. He added that the decision to challenge the agency was a wider effort to support blockchain software developers and protect innovation within the cryptography industry.
Lubin said:
“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 the blockchain software developers an hour which was most necessary, because I am sure that our peers of the industry who also defended the regulatory overtaking to you.”
Development efforts
The CEO of Ansensys expressed his appreciation for the change of approach to the dry under his current direction, which he described as more pro-innovation and pro-inventor.
He also reaffirmed the company’s commitment to constructive dialogue with public and private decision -makers to guarantee balanced regulations to support consumer protection and industry growth.
The regulatory question concluded, Consensys plans to focus entirely on development efforts. Lubin said that the company is optimistic about the future of Ethereum and decentralized technologies, emphasizing the acceleration of change towards a more decentralized financial system.
Dry filed charges against consensys on June 282024, alleging that the company has embarked on the unregistered offer and the sale of titles through its Metamask featured service and worked as a broker not recorded via both metamasque exchanges and metamask exchanges.
According to the complaint, the consensys has facilitated the sale of not registered titles on behalf of the suppliers of liquid liquid and rocket pool since at least January 2023.
Change of position
Since Mark Uyeda was Nominated as an interim president dry and working group on the regulator crypto was createdLarge -scale application measures have increased.
On February 21, the dry reached an agreement Coinbase to remove its application case, which is also awaiting final approval from the regulator. The dismissal was followed by a similar decision Regarding the cryptographic unit of Robinhood.
During last week, the SEC also concluded its implementing measures against Uniswap Labs and Gemini, while the founder of Tron Justin Sun Seek to end The litigation of the protocol with the regulator.
