SEC sues Consensys over MetaMask’s brokerage, staking services.

The United States Securities and Exchange Commission 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.

MetaMask is still the most used cryptocurrency wallet today.