The U.S. Securities and Exchange Commission (SEC) has sued Consensys, MetaMask’s parent company, for allegedly operating as an unregistered broker and offering unregistered securities through MetaMask Swaps since 2020.
The complaint alleges that Consensys collected more than $250 million in fees by brokering crypto asset transactions and providing staking services without proper registration, depriving it of important protections. Investors.
The SEC is seeking a permanent injunction, civil penalties and other remedies against Consensys for violating federal securities laws.
“Since January 2023, Consensys has engaged in the offering and sale of unregistered securities in the form of crypto asset staking programs and has acted as an unregistered broker through its MetaMask Staking service. As an unregistered broker, Consensys has collected over $250 million in fees.”
