Joseph Lubin Announces Initial Agreement with SEC Over MetaMask Lawsuit

The U.S. Securities and Exchange Commission (SEC) has tentatively agreed to withdraw its lawsuit against the developer of the non-custodial wallet MetaMask, ConsenSys. This information was shared by the company’s CEO, Joseph Lubin.

According to him, the conclusion of the legal proceedings still depends on final approval from the agency, although key agreements have already been reached.

«Now we can focus entirely on development. The year 2025 will be pivotal for Ethereum and ConsenSys. The transition to a more decentralized world is gaining momentum,» Lubin stated.

The company’s attorney, Bill Hughes, commented to Cointelegraph that the agreement was «fairly straightforward.» He noted that the SEC did not impose any fines or conditions as part of the case’s resolution.

Recall that the Commission filed a lawsuit against ConsenSys in June 2024. The complaint alleged that since October 2020, the firm has been operating as an unregistered securities broker, and since January 2023, it has been engaged in the sale of securities through MetaMask Staking.

Earlier this month, the SEC also ended legal disputes with Coinbase, Robinhood, and Uniswap.