The SEC is seeking to dismiss a lawsuit from a cryptocurrency law firm seeking a declaration that assets traded on Ethereum are not securities.

Mary Alexandra Verdi of the U.S. Securities and Exchange Commission has stepped in to fight a pending securities lawsuit. The complaint, filed Nov. 21 by Hodl Law, seeks a declaration that assets traded on the Ethereum Network are not "securities" and that trading on the platform does not constitute the "sale of unregistered securities."

In the motion to dismiss, Verdi said Hodl Law did not identify any actions the SEC has taken that "impose rights or obligations on it or any other person and does not identify any obligation that the SEC has to resolve the legal issues Hodl Law seeks to have this [c]ourt resolve," The SEC attorney wrote.