The US Securities and Exchange Commission (SEC) has filed a lawsuit against Ethereum software provider ConsenSys, alleging that its crypto wallet MetaMask has been operating as an unregistered broker and has engaged in the offer and sale of securities. The SEC also claims that MetaMask offered an unregistered securities program through its staking service, supporting liquid staking services for Lido (LDO) and Rocket Pool (RPL) as investment contracts.

The SEC alleges that ConsenSys has brokered transactions in crypto asset securities since 2020, including soliciting investors to trade crypto asset securities, providing pricing and other investment information, and receiving transaction-based compensation. The lawsuit, filed in the Eastern District of New York, charges ConsenSys with violating the registration provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934, seeking injunctive relief and penalties.