The US Securities and Exchange Commission (SEC) has instituted a lawsuit against Metamask developer, Consensys. The Commission alleges that the crypto firm violated securities laws by acting as an unregistered securities broker. Related Reading: Chainlink (LINK) To Hit New Highs? Analysts Predict $25 Target SEC Accuses Consensys Of Violating Securities Laws Using Metamask According to the court document, the SEC claims that Consensys has acted “as an unregistered broker of crypto asset securities through its MetaMask Swaps service” since October 2020. The Commission also accused the crypto firm of engaging in the unregistered offer and sale of securities through crypto staking programs. The SEC stated that Consensys has brokered over 36 million crypto transactions since 2020 through its MetaMask Swaps, at least 5 million involving crypto asset securities. Metamask is known as one of the most widely used crypto wallets. In addition to storing their crypto assets on the application, users can buy and sell cryptocurrencies by swapping one crypto asset for the other. This ‘Swap’ service forms the focal point of the SEC’s enforcement action. The SEC claims that some of ..
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