TechFlow news: Reed O'Connor, a U.S. federal district judge in Texas, dismissed Consensys' lawsuit against the U.S. Securities and Exchange Commission (SEC). The judge stated that because the SEC's alleged actions were not "final," Consensys' claims were effectively "invalid."
Consensys filed a preemptive lawsuit against the SEC in April 2024, after receiving a Wells notice from the SEC indicating that its popular Ethereum wallet, MetaMask, might be violating securities laws. In the lawsuit, Consensys claimed that the SEC internally treats Ethereum as a security and sought a declaration from the SEC that Ethereum is not considered a security.
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