PANews reported on February 28 that according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) plans to withdraw its enforcement lawsuit against MetaMask, a wallet tool under ConsenSys. ConsenSys CEO Joe Lubin said on the X platform that the case needs to be approved by SEC commissioners, but the company welcomes this decision and emphasizes that it has been prepared for a long-term struggle.

The SEC sued ConsenSys in June 2024, accusing MetaMask of being an unregistered securities broker and illegally providing securities trading services. Prior to this, the SEC had ended its investigation into Ethereum 2.0. The withdrawal of the lawsuit is the latest move by the SEC to adjust its crypto regulatory strategy under the leadership of new acting chairman Mark Uyeda. It has previously withdrawn cases against Coinbase, Gemini, Robinhood Crypto, Uniswap Labs and OpenSea, and suspended lawsuits against Binance and Tron Foundation.

Lubin said that he recognized the "pro-innovation, investor-focused" approach of the new SEC leadership and would continue to work with policymakers to promote the development of the U.S. crypto industry.