- Consensys announced dismissal of a case it filed against the SEC in April about the agency's alleged actions against Ethereum.
- Judge Reed O'Connor of the Northern District of Texas dismissed the case on Thursday.
- Consensys claims that the court failed to examine the "merits" of its claim against the SEC.
Consensys revealed in a post on Thursday that a Texas court has dismissed its case against the Securities and Exchange Commission (SEC), originally filed in April.
Court dismisses Consensys legal action against SEC
Consensys' lawsuit against the SEC was dismissed by a District court in the Northern District of Texas today, the firm reported in a post on X.
The lawsuit, originally filed in April, accused the SEC of seeking to declare Ethereum a security and a "regulatory overreach" in what it claimed was a stand-up action for the crypto industry. Following the lawsuit against the SEC, the crypto industry celebrated a win in June after the regulator dropped its investigation into Ethereum 2.0.
Consensys highlighted that the court had noted this win against the lawmakers, but the case was dismissed without considering its "merits."
"Unfortunately, the Texas court today dismissed our lawsuit on procedural grounds without looking at the merits of our claims against the SEC," wrote Consensys in an X post.
The regulatory battle will continue in the coming months, considering that the SEC sued Consensys in June, alleging that it acted as an unregistered securities broker through the Metamask wallet.
Consensys also noted the shift in political sentiment toward the crypto industry, re-emphasizing its commitment to contesting the SEC's enforcement action against Metamask.
Judge Reed O'Connor stated in his ruling on Thursday that he dismissed the allegations concerning MetaMask's offerings.
"Defendant's Motion to Dismiss Plaintiff's MetaMask claim on ripeness grounds is GRANTED."
Meanwhile, the SEC isn't relenting in its regulatory actions against crypto companies. The agency could be looking to sue Uniswap and OpenSea in the coming months, considering it also served them with Wells notices.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Who is Satoshi? Crypto lawyer sues DHS to reveal Satoshi Nakamoto's identity
Crypto attorney James Murphy, popularly known as "MetalLawMan", files a lawsuit against DHS to reveal Satoshi Nakamoto's identity. The lawsuit is based on Special Agent Rana Saoud's 2019 claim that the DHS had uncovered the creator of Bitcoin.
Binance to delist BADGER, BAL, 12 more tokens on April 16
Binance will delist 14 tokens on April 16 following a successful vote and standard delisting processes. TROY, SNT, and UFT top Binance’s first batch of the vote to delist results. Binance token delisting will impact futures, margin, loan and simple earn services.
Bitcoin Price Forecast: MicroStrategy’s SEC form 8-K filing hints at possible Bitcoin sales to meet financial obligations
Bitcoin price stabilizes around $80,000 on Tuesday after reaching a new year-to-date low of $74,508 the previous day. MicroStrategy’s SEC Form 8-K filing reports a loss of $5.91 billion, hinting at possible BTC sales to meet financial obligations.
Top 3 gainers Fartcoin, Hyperliquid and Telcoin: Asian session sparks tariff relief rally in meme coins and DeFi
The cryptocurrency market is experiencing a tariff relief rally, with altcoins like Fartcoin, Hyperliquid (HYPE) and Telcoin (TEL) bouncing back with double-digit gains. Fartcoin has jumped 28% in the past 24 hours, reaching $0.5801.
Bitcoin Weekly Forecast: Tariff ‘Liberation Day’ sparks liquidation in crypto market
Bitcoin (BTC) price remains under selling pressure and trades near $84,000 when writing on Friday after a rejection from a key resistance level earlier this week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.