US federal Judge Reed O’Connor has dismissed Consensys’ Ethereum and MetaMask claims against the Securities and Exchanges Commission (SEC).
US federal Judge Reed O’Connor has dismissed Consensys’ Ethereum and MetaMask claims against the Securities and Exchanges Commission (SEC).
Consensys filed a complaint in April asking the court to declare Ethereum not a security and prevent an SEC enforcement action against its MetaMask wallet.
The months-long legal battle ended with the judge siding with the SEC and tossing the suit for lack of subject matter jurisdiction. Court Tosses Consensys/SEC Suit
On April 25, blockchain development company Consensys sued the SEC in the US District Court for the Northern District of Texas. The suit also targeted the SEC’s chairman, Gary Gensler, and its five commissioners.
The company accused the SEC of “unlawful seizure of authority” over Ethereum as a security, citing a Wells notice by the agency over MetaMask’s staking and swap service.
