SEC Slaps Lawsuit on Consensys, MetaMask's Parent Company

The US Securities and Exchange Commission (SEC) is taking Consensys, the parent company of MetaMask, to court. The lawsuit, filed on June 28, alleges that Consensys has been operating as an unregistered broker and engaging in the unregistered offer and sale of securities through MetaMask since 2020.

The SEC claims that Consensys has raked in over $250 million in fees by brokering crypto asset transactions and offering staking services without proper registration. This lack of registration, the SEC argues, has deprived investors of crucial protections.

The SEC is seeking a permanent injunction, civil penalties, and other equitable relief against Consensys for these alleged violations. The regulator also accuses Consensys of facilitating investments in Lido and Rocket Pool's staking programs, acting as an intermediary in unregistered transactions. Stay tuned for more updates on this developing story.