🔥 Consensys sued the SEC, and the SEC called MetaMask an unlicensed broker

Consensys (the developer of MetaMask) filed a lawsuit against the US Securities and Exchange Commission (SEC).

The company said that the SEC seeks to regulate Ethereum as a security, although it previously stated the opposite.

Consensys also reported that the regulator sent a Wells notice to the company, accusing MetaMask of operating as an unlicensed broker.

In its lawsuit, the firm is asking the court to declare that ETH is not a security.