Consensys faces SEC lawsuit for offering MetaMask – DiarioBitcoin
By Hannah Perez
The US SEC has sued Consensys over its MetaMask wallet, alleging the company acted as an “unregistered securities dealer.”
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- The US SEC filed a lawsuit against Consensys
- Ethereum software developer accused of violating federal securities law
- Says it acted as an unauthorized broker by offering the MetaMask wallet
The United States Securities and Exchange Commission (SEC), a major financial regulator in the country, has officially filed a legal complaint against the software development company Blockchain, Consensys.
Lawsuit focuses on cryptocurrency wallet MetaMaskdeveloped by Consensysclaiming that the software provider Ethereum violated federal laws by failing to register as a broker dedicated to “the offer and sale of securities“.
The regulatory agency also said the company had violated securities laws by offering an unregistered securities program through its staking service.For its conduct as an unregistered broker, Consensys has collected more than $250 million in commissions“the SEC charged.
The complaint was filed this Friday in the United States District Court in the Eastern District of New York.
***This is a developing story and will be updated accordingly. Refresh the page to access the latest version.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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