The U.S. SEC claims Consensys has been operating as an unregistered broker through MetaMask.
The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys, the parent company of MetaMask. According to a complaint on June 28, the company has been operating as an unregistered broker and engaging in the unregistered offer and sale of securities through MetaMask Swaps since 2020.
The complaint claims that Consensys has collected more than $250 million in fees by brokering crypto asset transactions and offering staking services without proper registration, thereby depriving investors of crucial protections. The SEC seeks a permanent injunction, civil penalties, and other equitable relief against Consensys for these alleged violations of federal securities laws.
In addition, the regulator claims that by facilitating investments in Lido and Rocket Pool’s staking programs, Consensys has acted as an intermediary in unregistered transactions, denying investors essential protections.
