According to the SEC's suit, Consensys has been operating as an unregistered broker and engaging in unregistered securities sales through MetaMask.
a lawsuit against Consensys, the parent company of MetaMask. According to a complaint on June 28, the company has been operating as an unregistered broker and engaging in the unregistered offer and sale of securities through MetaMask since 2020.
The complaint claims that Consensys has collected more than $250 million in fees by brokering crypto asset transactions and offering staking services without proper registration, thereby depriving investors of crucial protections. The SEC seeks a permanent injunction, civil penalties, and other equitable relief against Consensys for these alleged violations of federal securities laws.
“Since January 2023,Consensys has engaged in the unregistered offer and sale of securities in the form of crypto assetstaking programs, and acted as an unregistered broker, through its MetaMask Staking service. By itsconduct as an unregistered broker, Consensys has collected over $250 million in fees."
In addition, the regulator claims that by facilitating investments in Lido and Rocket Pool's staking programs, Consensys has acted as an intermediary in unregistered transactions, denying investors essential protections.
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