2024-06-29
On June 28, 2024, the
U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against
ConsenSys, the developer of MetaMask.
https://www.sec.gov/news/press-release/2024-79
The SEC alleges that
ConsenSys violated securities laws by engaged in
the offer and sale of securities, allowing
“swapping” of crypto assets, as well as offering staking services through its cryptocurrency wallet called MetaMask.
The SEC claims that
MetaMask acted as an unregistered securities broker and that its staking
service violated securities laws.
The SEC’s complaint also
states that ConsenSys brokered more than 36 million crypto transactions,
including at least 5 million that were securities. The SEC is seeking
injunctive relief and penalties.
ConsenSys argues that its MetaMask
swap and staking features don’t fall under the SEC’s oversight.
This case is part of the
SEC’s crackdown on cryptocurrency industry.
