SEC to Withdraw Lawsuit Against ConsenSys and MetaMask

According to Foresight News, the U.S. Securities and Exchange Commission (SEC) plans to withdraw its enforcement lawsuit against ConsenSys and its cryptocurrency wallet application, MetaMask. ConsenSys CEO Joe Lubin expressed relief at the outcome, stating, "We were committed to fighting this lawsuit to the end, but we welcome this result. No company wants to be the target of institutional enforcement, but it is our duty and honor to stand up for blockchain software developers when needed most." Previously, the SEC had filed a lawsuit against ConsenSys in June of last year, accusing MetaMask of operating as an unregistered securities broker and allegedly offering and trading securities illegally.