SEC Dismisses MetaMask Case, Ripple Lawsuit Still Unresolved – What’s Next for Cryptocurrency?

On February 27, 2025, the U.S. Securities and Exchange Commission (SEC) made a significant decision by dismissing the lawsuit against Coinbase. This dismissal was not just a simple process; it was done “with prejudice.” This means that the lawsuit cannot be reopened or brought back in the future, even if a new administration takes over the SEC. This development was anticipated, as Coinbase’s CEO, Brian Armstrong, had hinted the previous week that the dismissal was likely to happen.

This decision is part of a broader trend where the Trump-era SEC has dropped several lawsuits against various cryptocurrency platforms, including OpenSea, Robinhood, Uniswap (often referred to as UNI), Gemini, and now Coinbase. The regulatory landscape seems to be shifting, allowing more freedom for these companies to operate without the cloud of lawsuits hanging over them.

In addition to Coinbase, the SEC also dismissed the investigation into MetaMask, a popular digital wallet and decentralized application developed by Consensys. Joseph Lubin, the CEO of Consensys, announced that the SEC and his company had come to an agreement regarding the securities enforcement case against MetaMask. In his statement, he expressed satisfaction that the case was being dismissed, which marked another win for the crypto sector.

Previously, the SEC had claimed that MetaMask was dealing in unregistered securities and acted as an unregistered broker-dealer. But with this dismissal, the agency is easing concerns regarding MetaMask’s legal standing. February has been a busy month for the SEC, not only dropping accusations against MetaMask and Coinbase but also halting lawsuits against Binance, Justin Sun, and the TRON Foundation.

However, amidst these developments, the case surrounding Ripple Labs remains unresolved and somewhat complex. According to crypto lawyer Jeremy Hogan, Ripple’s situation is more complicated than those of the other cases because it has already progressed into judgment and appeal stages. He noted that while some cases were not as advanced, Ripple’s case stands out as it navigates intricate legal challenges.

Despite the difficulties, Ripple’s leadership is optimistic about resolving the case within the year 2025. In a discussion held in late January, Ripple’s Chief Legal Officer, Stuart Alderoty, expressed a cautious hopefulness that the new leadership at the SEC would recognize the merits of their case, leading to a voluntary withdrawal of the lawsuit.

Overall, the changes occurring with Coinbase and MetaMask show a potential shift in how regulatory bodies handle cases in the cryptocurrency space. As more suitcases are dismissed, it leads to greater speculation about what this could mean for other companies still facing scrutiny, like Ripple. While the road to resolution may be long and complex for Ripple, the atmosphere around cryptocurrency regulation appears to be evolving, which could set a positive precedent for the industry moving forward.