According to TechFlow, Reed O'Connor, a judge in the U.S. District Court for the U.S. District of Texas, dismissed Consensys' lawsuit against the U.S. Securities and Exchange Commission (SEC). The judge stated that since the SEC's alleged action was not a "final" action, Consensys's claim was actually "invalid."

Consensys filed a preventive lawsuit against the SEC in April 2024 after the company received a "Wells Notice" from the SEC regarding potential securities law violations for its popular Ethereum wallet MetaMask. In the lawsuit, Consensys claimed that the SEC internally considered Ethereum to be a security and sought a declaration from the SEC that Ethereum is not considered a security.