SEC Sues Consensys For Violating Securities Law
The U.S. Securities and Exchange Commission filed a lawsuit against ethereum software firm Consensys over its popular crypto wallet MetaMask, alleging it acted as an unregistered securities broker.
The agency alleged MetaMask’s services violated securities laws by allowing users to buy and sell crypto securities assets and pledge tokens in exchange for earning yield. In a statement, Consensys said it is “confident in our position that the SEC has not been granted authority to regulate software interfaces like MetaMask.”
In April, Consensys sued SEC, seeking confirming that ether is not a security, and that it didn’t violate securities laws by providing MetaMask product.