After the SEC closed its Ethereum 2.0 probe in June 2024, it has now agreed in principle to dismiss its MetaMask enforcement case, removing immediate pressure on staking and wallet features.
The SEC has agreed in principle to dismiss its securities enforcement case against ConsenSys over MetaMask Swaps and MetaMask Staking, with no fine and no admission of wrongdoing, according to ConsenSys founder Joe Lubin and a company official cited by Bloomberg. The move follows the SEC’s June 2024 closure of its Ethereum 2.0 investigation without recommending enforcement action, easing two prominent Ethereum-related regulatory threats. The MetaMask case had alleged that ConsenSys brokered transactions in crypto asset securities through non-custodial wallet features and offered unregistered securities through staking integrations with Lido and Rocket Pool. Its dismissal removes the most immediate enforcement risk for MetaMask and undercuts, for now, the SEC theory that wallet interfaces routing users to protocols can amount to unregistered brokerage activity, though broader legal questions around broker classification, staking products, and U.S. crypto policy remain unresolved.