The SEC has charged MetaMask for operating as a crypto exchange and broker, selling crypto to its users through its staking program. Lido and Rocket Pool, which provide staking services to MetaMask users, have also been charged.
Key Insights
The SEC has charged MetaMask with selling unregistered securities, acting as a broker, and offering crypto exchange services.
Many of the charges stem from a misunderstanding of how crypto markets operate.
The receipt of liquid re-staking tokens has been misclassified as a purchase.
Lido and Rocket Pool have also been implicated in the same case.