SEC sues Metamask developer Consensys
Name
SEC sues Metamask developer Consensys
Description
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Ethereum software provider ConsenSys, alleging unregistered securities activities via its MetaMask wallet and staking services Lido and Rocket Pool. This legal action underscores the ongoing regulatory challenges within the crypto industry, with ConsenSys accusing the SEC of overreach and anti-crypto bias.
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Date
06
Month29
Day2024
Year08
:30
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SEC Sues Consensys Over MetaMask Staking and Unregistered Securities
Crypto
Article
The SEC's lawsuit against ConsenSys targets the company's MetaMask staking feature, arguing that these integrations with third-party staking services amount to "investment contracts" and therefore fall under securities regulations.
Crypto
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Claim
ConsenSys, founded by Ethereum co-founder Joseph Lubin, has criticized the SEC's actions as part of an "anti-crypto agenda" pursued through arbitrary enforcement actions and regulatory overreach, asserting that the agency lacks the authority to regulate software interfaces like MetaMask.
Crypto
News event
Claim