SEC Sues ConsenSys Over MetaMask Staking, Broker Allegations

The SEC alleged that MetaMask acted as an unregistered securities broker and that its staking service violated securities laws.

The U.S. Securities and Exchange Commission on Friday sued Ethereum software provider ConsenSys over its MetaMask service, alleging that the wallet tool was an unregistered broker that "engaged in the offer and sale of securities."

MetaMask also offered an unregistered securities program through its betting service, the SEC alleged in a document filed in court for the Eastern District of New York.

The SEC alleged in its lawsuit that it offered staking services for Lido and Rocket Pool as investment contracts, meaning they are also unregistered securities.

"Consensys has collected more than $250 million in fees," the SEC alleged.

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