In an important organizational development, the American Securities and Stock Exchange Committee agreed to drop the issue of its enforcement against Consnsys, the Blockchain software company behind the famous Metamask wallet. The decision, pending the final approval of the SEC Commission, is another step in the position of the developing agency regarding the organization of encryption under its new leadership.
SEC Consensys drops
Joe Lubin, CEO of Consensys X, took over the SEC decision, saying that the company was ready to fight the case to the end, but welcomed the decision.
Le Pen put the decision as a victory for Blockchain developers, focusing on the importance of standing against organizational transgression. He also expressed his appreciation for the leadership of the new SEC, praising its axis towards a more suitable approach to the organization of encryption.
Consensys founder statement. source.
A variable wave in the SEC encryption approach
SEC’s decision is in line with the case against Consensys with its last style in withdrawing enforcement procedures against the main encryption companies. In the past few weeks alone, the organizer has retracted the lawsuits and investigations involved in the laboratories of UISWAP, Robinhood Crypto, Gemini and Opensea. In addition, I requested a constant waqf against Binance and Ton Foundation.
The shift in the organizational approach follows the departure of former SEC Chairman Gary Ginsler, who led an aggressive enforcement campaign against the encryption industry. Under the acting chief Mark Oida, the agency seems to re -evaluate its strategy, as Commissioner Hester Peres leads a new encryption group aimed at developing clearer instructions for regulating digital assets.
While the issue indicates that there is a more constructive relationship between the organizers and encryption companies, legal experts warn that this does not mean that SEC is completely overseeing encryption. Instead, the agency may seek to improve its organizational framework to provide clearer guidance for financing applications and decentralized applications.
