SEC Files Lawsuit Against Consensys Over Unregistered Brokerage and Crypto Securities Sales

The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys, the parent company of MetaMask, alleging violations related to unregistered brokerage and the sale of securities. According to the complaint filed on June 28, Consensys has been operating as an unregistered broker and conducting unregistered securities offerings through its MetaMask Swaps service since 2020. The SEC claims that Consensys has earned more than $250 million in fees from crypto asset transactions and staking services without complying with federal securities laws, thereby leaving investors without necessary protections. The SEC seeks permanent injunctions, civil penalties, and other equitable