ConsenSys v SEC lawsuit dismissed
ConsenSys v SEC lawsuit dismissed
Germany Shuts Down 47 Crypto Exchanges, BingX Lost Millions To Suspected Hack
A Texas court dismissed ConsenSys' 5-month old lawsuit against the SEC that tried to call out the SEC's regulatory overreach and find clarification in the classification of crypto.
More specifically, the suit was filed when the SEC started investigating Ethereum, and, according to ConsenSys, planned to regulate it as a security. MetaMask was also a potential target.
ConsenSys tweeted, saying that 'unfortunately' the suit was dismissed, on procedural grounds and without attention proper to their claims.
The tweet also said that the SEC dropped its investigation into Ethereum 2.0 after their litigation filing, and that according to the court, the SEC already gave the company relief.
This follows the SEC clarifying that cryptoassets themselves are not securities.
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