Why it matters: A sigh of vindication was audible from at least one major Ethereum firm that's been locked in a battle with the regulator.
Zoom in: Consensys, the company behind the Ethereum-based wallet MetaMask, touted the development Tuesday night as a "major win" for Ethereum developers.
The SEC would not be pursuing charges against the company, according to Consensys.
Context:Consensys sued the SEC in April seeking a court order to halt an investigation that started months earlier, and "to stop its unlawful power grab," per the company's blog.
Behind the scenes: When Axios asked Consensys chief Joe Lubin about the suit in Austin last month, he said: "It's critical that we get clarity from the courts on this because if we sat on our heels and the SEC was on the offensive, they wouldn't have to answer certain questions."
"They could just continue to attack us and other companies in granular fashion."
What we're watching: The letter from the SEC says that it "must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff's investigation."
