June 28, 2024   |   Read Online


Ethereum giant Consensys sued by SEC 🚨
The U.S. regulator takes aim at Consensys for its MetaMask staking service. What happens now?

	 	
Andrew Hayward

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📝 What you need to know
We heard a couple weeks back that the SEC was reportedly done investigating Ethereum—but that didn’t mean the U.S. regulator was done with Consensys.

On Friday, the SEC filed suit against the Ethereum software giant (disclosure: one of 22 investors in Decrypt), alleging that it “acted as an unregistered broker of crypto asset securities” via its MetaMask staking service.

Consensys previously filed suit against the SEC in April, taking an offensive posture amid an expectation of enforcement action—and amid claims that the agency had secretly referred to ETH as a security internally for some time.