A Texas federal court judge has dismissed a lawsuit brought by Consensys against the SEC that claimed the agency was investigating Ethereum to classify it as a security.
A Texas federal judge has dismissed a lawsuit filed by blockchain development firm Consensys against the Securities and Exchange Commission and its five Commissioners, including Chair Gary Gensler.
The suit, launched in April, requested the court declare that Ether (ETH) is not a security, that “Consensys’s sales of ETH are not sales of securities,” and block the SEC from bringing enforcement action over aspects of its MetaMask wallet software, which it eventually did in June.
Consensys also claimed the SEC opened an investigation into Ethereum and planned to regulate it as a security, noting the agency had issued it a Wells notice over MetaMask’s swap and staking services.
