SEC Sues Consensys, Claims the Blockchain Tech Company Acted As Unregistered Securities Broker via MetaMask – Notice Today Internet

The U.S. Securities and Exchange Commission (SEC) is suing Consensys, claiming that the blockchain school firm’s MetaMask notecase acted as an unlisted securities broker.

According to past court documents, the SEC says Consensys desecrated federal laws by imperfectness to run with the restrictive dominance as a securities broker.

“Since Oct 2020, Consensys has acted as an unlisted broker of crypto quality securities finished its MetaMask Swaps service.

Since Jan 2023, Consensys has geared in the unlisted substance and understanding of securities in the modify of crypto quality staking programs, and acted as an unlisted broker, finished its MetaMask Staking service. By its carry as an unlisted broker, Consensys has composed over $250 meg in fees.”

Furthermore, the SEC alleges that Consensys also geared in the income of securities for crypto staking protocols Lido and Rocket Pool.

“In constituent to operative as an unlisted broker with attitude to MetaMask Swaps, Consensys performs added tralatitious duty of the securities market: substance and commerce securities.

Specifically, Consensys has offered and oversubscribed tens of thousands of securities for digit issuers: Lido and Rocket Pool. By this conduct, Consensys acts as an factor of those securities and participates in the key points of their distribution.”

Consensys responded to the lawsuit, locution that the SEC is attractive in restrictive beat to modify its power.

“The SEC has been pursuing an anti-crypto list led by ad hoc enforcement action. This is meet the stylish warning of its restrictive beat – a straight endeavor to redefine well-established jural standards and modify the SEC’s powerfulness via lawsuit.

We are overconfident in our function that the SEC has not been acknowledged dominance to set code interfaces same MetaMask.”

Earlier this year, the SEC dispatched Consensys a author attending after locution that it was work whether the sharp lessen papers Ethereum (ETH) was section low its jurisdiction. However, Consensys said it conventional a attending that the restrictive dominance ended its enquiry into the concern early this period without attractive some enforcement action.

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