The US Securities and Exchange Commission (SEC) has agreed in principle to dismiss its securities enforcement case against Consensys, according to a Feb. 27 statement.
Once final approvals are secured, the SEC will file a stipulation with the court to formally close the case. The resolution follows Consensys’ commitment to contest the allegations.
Consensys CEO Joseph Lubin said the dismissal, which is still pending final approvals, concludes the dispute. He added that the decision to challenge the agency was a broader effort to support blockchain software developers and protect innovation within the crypto industry.
Lubin said:
“No company wants to be the target of agency enforcement, but at the same time, it was our duty and honor to stand up for blockchain software developers in the hour it was most needed, as I’m sure our industry peers who also stood up against regulatory overreach would tell you.”
Development efforts
The Consensys CEO expressed appreciation for the SEC
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