TechFlow reports that on February 28, FOX Business journalist Eleanor Terrett disclosed the U.S. Securities and Exchange Commission (SEC) has reached a tentative agreement with blockchain software company ConsenSys to end litigation against the firm. According to sources, the settlement is pending formal approval by the commission, with the announcement expected soon from the top Wall Street regulator.
The SEC sued ConsenSys in June last year, alleging the company operated as an unregistered broker-dealer, claiming its staking service MetaMask provided a channel for the issuance and sale of unregistered securities. In a statement, ConsenSys founder and CEO Joseph Lubin said: "We were fully prepared to fight this through to the end, but welcome this outcome. We appreciate the new leadership at the SEC for taking a path that supports innovation and investors."
