The Securities and Exchange Commission, or SEC, is ending their investigation into Consensys Blockchain software, the parent company of MetaMask. The two sides have reportedly reached an agreement in principle to end the agency’s lawsuit, sources tell Fox Business. The dismissal is subject to approval by the commission and an announcement by Wall Street’s top cop will come soon.

According to Joseph Lubin, co-founder of Ethereum and the Consensys company, the SEC will file a stipulation with the court that effectively closes the case. In a post to X, Lubin says that the company was committed to fighting until the end of the case, but is pleased with this outcome nonetheless. “No company wants to be the target of agency enforcement, but at the same time, it was our duty and honor to stand up for blockchain software developers in the hour it was most needed, as I’m sure our industry peers who also stood up against regulatory overreach would tell you.”

SEC Cuts Consensys Loose

The SEC sued Consensys last June as part of a wave of enforcement actions brought against the sector by former SEC Chair Gary Gensler. The agency charged Consensys with securities law violations for allegedly operating as an unregistered broker, claiming its staking service MetaMask was a conduit for the unregistered offering and sales of securities. Under Gensler, the SEC took the position that staking as a service (where a third-party platform stakes crypto tokens on behalf of users) could be considered securities.

Now that the SEC is under new leadership that is more lenient to the crypto industry, the regulator has begun changing its tune on several high-profile crypto cases. Most recently, the SEC also dropped its investigation into Uniswap and Coinbase, two prominent crypto exchanges.

Also Read: Bitcoin: How High Will BTC Rise In The Next Five Years?

With this resolution, the SEC may have eyes set on other crypto case closings in the near future. One of the most anticipated is its case against Ripple Labs (XRP). The Binance and Kraken crypto exchanges may also be next in line, a Fox Business analyst predicts.

Looking ahead, Lubin said that 2025 has the makings of a big year for Consensys, Ethereum, and the entire crypto community. “Now we can get 100% back to building. 2025 is going to be the best year yet for Ethereum and Consensys. The paradigm shift to a much more decentralized world is accelerating.”

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