SEC Drops Lawsuits Against Consensys, Coinbase As Trump-Era Regulatory Shift Gains Momentum
The US Securities and Exchange Commission (SEC) has agreed to drop its lawsuit against Metamask developer Consensys and also dismissed its case against crypto exchange Coinbase as the Trump-era regulatory shift gathers pace. Ethereum co-founder and Consensys founder Joseph Lubin said in a Feb. 27 post on X that the SEC has agreed to file a motion that will end its case against Consensys. The conclusion of the litigation is still subject to final approval from the regulator. Change In SEC Leadership Marks The Beginning Of Regulatory Shift Consensys lawyer Bill Hughes said in a recent interview that the SEC’s agreement to drop its enforcement action against the company was fairly straightforward, adding that the regulator’s litigation team “understood that the SEC was going to be moving in a new direction.” According to Hughes, the SEC’s decision is due to its change of direction under the pro-crypto Trump administration. “There was defini...
