SEC crypto regulation update – Gas-free crypto transactions

SEC backs off, and MetaMask moves forward! Multi-chain support & gas-free transactions boost adoption. Learn how these updates impact the industry.

SEC Retreats, MetaMask Expands: Gas-Free Transactions & Multi-Chain Support

MetaMask, a top crypto wallet provider, is now supporting Bitcoin and Solana, stepping away from its mainly Ethereum-based system. This expansion allows users to manage assets on multiple blockchains without leaving the wallet ecosystem. This company also aims to facilitate Gas-free crypto transactions, enhancing the transaction process and user experience. Meanwhile, the US Securities and Exchange Commission has also ended its case against ConsenSys, the wallet’s parent company. This action marks a less aggressive regulatory approach towards crypto. These changes visualize a positive future for this crypto wallet provider, driven by both new technologies and regulatory developments.

MetaMask’s Evolution into a Multi-Blockchain Powerhouse

MetaMask, a leading self-custodial wallet, plans to add Bitcoin and Solana support. It will begin supporting Solana in May, marking the first non-EVM blockchain on MetaMask. Bitcoin support will follow in Q3. With the BTC market cap at about $1.1T and SOL at $45B, this update seems essential for further adoption. Such updates position MetaMask as a more all-inclusive wallet, cutting down on the need for multiple platforms. 

This change is part of an industry-wide change and push for interoperability in the cryptocurrency space, aiming for easier asset management. Furthermore, MetaMask is striving to cut down on high transaction fees and enhance the overall user experience. As such, this expansion also helps MetaMask users manage their assets more efficiently across different networks.

MetaMask’s Vision: One-Click Swaps & No Gas Fees

As shown in the image above, MetaMask has revamped its home screen and is now showcasing assets from various blockchains together. This eliminates the need to toggle between networks manually. Another update in the company’s roadmap is achieving gas-free crypto transactions, aiming to simplify and reduce costs for users. This is because gas fees fluctuate rapidly with network congestion, complicating the transaction process for the users. 

Image 1 – Provided by MetaMask, published on Tradingview on Feb 28, 2025

MetaMask is also set to roll out “gas-included swaps,” where fees can be paid in any token, not just ETH. Additionally, the adoption of ERC-5792 will support batching actions like swapping tokens with a single click, saving time and money. This aligns with MetaMask’s commitment to streamline crypto handling for all user levels. Despite these technological strides, regulatory issues continue to pose challenges. However, recent SEC developments suggest a more pro-crypto stance may be emerging.

The End of Hostility? SEC’s Retreat Sparks Hope

Joe Lubin, CEO of ConsenSys, revealed a significant SEC decision on an X post on Thursday. He announced that the SEC had concluded its enforcement action against ConsenSys. MetaMask parent company was previously labeled an unregistered securities broker by the SEC. This turnaround is part of a larger trend, as the SEC has also dismissed cases involving other top crypto organizations. 

Under the new Acting Chair Mark Uyeda, the SEC crypto regulation update includes moving away from the forceful “regulation by enforcement” method. This policy was mostly used under ex-Chair Gary Gensler. As regulations become more consistent, MetaMask and other platforms may drive broader crypto adoption and acceptance.

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>I&#39;m pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed. Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case.…</p>&mdash; Joseph Lubin (@ethereumJoseph) <a href=”https://twitter.com/ethereumJoseph/status/1895156943972639243?ref_src=twsrc%5Etfw”>February 27, 2025</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

I'm pleased to announce that Consensys and the SEC have agreed in principle that the securities enforcement case concerning MetaMask should be dismissed. Subject to the approval of the Commission, the SEC will file a stipulation with the court that effectively closes the case.…

— Joseph Lubin (@ethereumJoseph) February 27, 2025

Crypto Future: Innovation and Regulation Are Evolving

As MetaMask expands and adapts to the latest SEC crypto regulation update, the crypto landscape is set for significant changes. Should MetaMask manage to incorporate Bitcoin and Solana and eliminate gas fees, it might become the most accessible crypto wallet. This is because such enhancements could prompt widespread adoption by solving some major obstacles in crypto transactions. 

Simultaneously, the SEC’s more lenient approach indicates that upcoming regulations could be more foreseeable. This predictability allows businesses to concentrate on innovation over legal issues. Looking ahead, increased cooperation between regulators and crypto entities may cultivate a stable environment, supporting the broader acceptance of cryptocurrencies.