A federal judge has dismissed a lawsuit filed by blockchain technology company Consensys against the U.S. Securities and Exchange Commission (SEC) and its Chair, Gary Gensler. The lawsuit, which was originally filed in April, sought to challenge the SEC’s regulatory authority over Ethereum.
Among the bombshell allegations in the suit were claims that the SEC had opened an investigation into Ethereum and had issued Consensys a Wells notice. This notice indicated that the SEC was considering filing a lawsuit against the company.
While the SEC did eventually file a lawsuit against Consensys, targeting MetaMask Swaps and alleging that Lido and Rocket Pool were unregistered securities, the judge dismissed these claims in his decision. Judge Reed O’Connor noted that the enforcement actions taken by the SEC did not constitute final agency actions and therefore did not establish Consensys’ legal rights or obligations.
The claims related to Ethereum brought by Consensys were also dismissed as moot, given that the SEC announced it was dropping its investigation into Ethereum earlier this summer and had approved the launch of ether ETFs.
