Foresight News Reports: Consensys' Lawsuit Against SEC Dismissed

According to Blockworks, U.S. District Judge Reed O'Connor in Texas has dismissed Consensys' lawsuit against the Securities and Exchange Commission (SEC). The judge ruled that Consensys' claim was "ineffective" as the SEC's alleged actions did not constitute a "final" action.

Foresight News previously reported that Consensys filed a preemptive lawsuit against the SEC in April 2024. The company had received a "Wells Notice" from the SEC concerning its cryptocurrency wallet, MetaMask, potentially violating securities laws. Consensys claimed in the lawsuit that the SEC internally viewed Ethereum as a security and sought a declaration from the SEC that Ethereum should not be considered a security.