Texas Court Dismisses Consensys Lawsuit Against SEC

Judge throws out Consensys' lawsuit against the SEC over Ethereum, but the MetaMask issue remains unresolved.

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Over 86% of Web3 professionals are confident in the future of crypto Consensys

The surprising workforce optimism comes despite current regulatory uncertainty ahead of the US elections.

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MetaMask unveils new toolkit to streamline Web3, user onboarding

Consensys introduces a game-changing toolkit at EthCC, streamlining decentralized app development and enhancing Web3 user engagement.

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Web3 users hit 10M in Q2, MetaMask to enhance security: Finance Redefined

Consensys integrates Wallet Guard to boost MetaMasks security, aiming to drive user fund losses to zero amid rising Web3 threats.

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Consensys acquires Wallet Guard to enhance MetaMask security

Consensys integrates Wallet Guard to boost MetaMasks security, aiming to drive user fund losses to zero amid rising Web3 threats.

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How Consensys Wallet Guard Move Bolsters MetaMask Security

Consensys acquires Wallet Guard in a move that promises to bolster MetaMask security significantly.

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The SEC's war against Ethereum and Consensys isnt over

Gary Gensler will be forced out as SEC chairman if Trump is elected but he could remain as a commissioner to continue his anti-crypto crusade.

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Judge signs off on expedited schedule for Consensys suit against SEC

While Judge Reed OConnor granted the SEC an extension to respond to Consensys lawsuit, he also approved a timeline for considering the cases merits proposed by the firm.

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Impact of shifting SEC policy on ETH yet to be seen Consensys SC

Bill Hughes, Consensys senior counsel and director of global regulatory matters, spoke to Cointelegraph at Consensus 2024 in Texas on the status of its lawsuit against the SEC.

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SEC Serves Fresh Lawsuit To Metamask Developer Consensys Whats The Problem This Time?

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 SECs enforcement action. The SEC claims that some of these crypto assets are securities, and by enabling users to swap these securities, Consensys acted as an unregistered securities broker, thereby violating securities laws in the process.  The SEC went further to list Polygon (MATIC), Decentraland (MANA), Chiliz (CHZ), The Sandbox (SAND), and Luna (LUNA) as the crypto securities that were made available for trading on Metamasks swap platform. Additionally, the SEC accused Consensys of performing a traditional function of the securities market by offering and selling securities for Lido and Rocket Pool. The Commission claimed that the staking programs offered by Lido and Rocket Poo are investment contracts and that Consensys was in the wrong by offering these securities through unregistered transactions on its MetaMask Staking platform.  The Genesis Of The Legal Battle Between SEC And Consensys Interestingly, the SECs lawsuit against Consensys comes just months after the crypto firm filed a lawsuit against the Commission, accusing the SEC of an unlawful seizure of authority. Consensys sought Judicial relief against a potential action from the SEC. They also asked the court to declare that Ethereum wasnt a security and that the SEC had no jurisdiction over crypto-related matters.  The crypto firm looked to have won that battle, considering that the SEC dropped its investigation into Ethereum’s status as a security. However, in the letters informing Consensys about the Commission’s decision to drop its investigation into Ethereum, the SEC had warned the crypto firm that they could bring enforcement actions against them relating to other issues, which they have now done.  Related Reading: Dont Sweat The Dip! Ethereum 15% Price Slump Could Spark Epic Comeback Analyst Reacting to the SECs lawsuit, Consensys stated that it would vigorously pursue the lawsuit it had initially filed against the SEC. The crypto firm also remarked that they had fully expected the SEC to follow through with its threat of claiming that MetaMask had to be registered as a securities broker.  Featured image from CNBC, chart from TradingView

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SEC Files Lawsuit Against MetaMask Owner ConsenSys Over Unregistered Crypto Transactions

The US SEC has filed a lawsuit against ConsenSys, a blockchain software company, for violating federal securities laws by offering unregistered securities through its MetaMask Swaps and Staking platforms, facilitating 36 million crypto asset transactions. (Read More)

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SEC Turns Legal Tables On Consensys, Sues Over Metamask Ethereum Staking Service

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SEC Sues Consensys: Allegations of Unregistered Securities Sales

On June 28, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Consensys Software Inc. in Brooklyn, New York. The SEC alleges that Consensys, through MetaMask Staking, engaged in the unregistered offer and sale of securities and operated as an unregistered broker. ConsenSys’s Role in Unregistered Securities Offer According to the complaint, since […]

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SEC sues Consensys over MetaMasks brokerage, staking services

The U.S. SEC claims Consensys has been operating as an unregistered broker through MetaMask.

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How to growth hack Web3 marketing like an OG

The secrets of effective storytelling in the evolving Web3 and crypto space are unlocked as Amanda Cassatt shares her insights and strategies working with some of the top marketing teams in Web3.

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Bitwise amended Ethereum ETF filing says Pantera interested in $100M buy

Asset management firm Bitwise has disclosed that Pantera is interested in investing as much as $100 million in its upcoming spot Ether ETF, but it could spend more, less or nothing at all.

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SEC Is Closing Investigation into Ethereum as a Security

The Securities and Exchange Commission (SEC) is closing its investigation into Ethereum, the second-largest cryptocurrency by market capitalisation, as a security, Consensys confirmed today (Wednesday).

Ethereum Is Not a Security

The Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0, the tweet by the company stated, adding: This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.

Consensys further confirmed that the decision came after the US-based blockchain firm sent a letter to the regulator on June 7 asking to confirm that the May ETH ETF approvals, which were premised on ETH being a commodity, meant the agency would close its Ethereum 2.0 investigation.

The decision follows a letter we sent on June 7, asking the SEC to confirm that the May ETH ETF approvals, which were premised on ETH being a commodity, meant the agency would close its Ethereum 2.0 investigation. The closing of the Ethereum investigation is momentous, but its

A Relief for the Blockchain Companies

The status of cryptocurrencies remained unclear, and no regulations were proposed for them in the US. Although Bitcoin is considered a commodity, the status of Ether remained uncertain with the SEC's interest in several Ether offerings.

Earlier this year, Consensys, the company behind the popular MetaMask wallet, sued the SEC to deter the regulator from overseeing the Ethereum blockchain. The lawsuit argued that if the SEC continues to exert its authority over Ethereum, it would bring the blockchain to a halt, crippling one of the internets greatest innovations.

Today, Consensys filed a lawsuit against the Securities and Exchange Commission. The goal behind this is to ensure that Ethereum remains a vibrant and indispensable blockchain platform and to preserve access for the countless developers, market participants, and institutions

The lawsuit came in response to a Wells Notice received by Consensys indicating that the regulator was preparing to bring enforcement actions against the company over the services of its MetaMask wallet.

The company argued that MetaMask is not a broker and neither holds customers digital assets nor carries out any transaction functions.

With the SEC confirming the closing of its investigations, companies offering Ethereum-based services can be relieved that they will not face actions for unregistered securities offerings.

However, Consensys confirmed that it would continue with the lawsuit as it is seeking a declaration that offering the user interface software MetaMask Swaps and Staking does not violate the securities laws.

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US SEC Drops Investigation Into Ethereum ConsenSys

ETH is up 2.9% immediately after the news was posted by ConsenSys.

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SEC closes investigation into Ethereum 2.0, no securities charges against ETH: Consensys

The SEC has closed its investigation into Ethereum 2.0, confirming ETH is not a security and will face no charges.

The post SEC closes investigation into Ethereum 2.0, no securities charges against ETH: Consensys appeared first on Crypto Briefing.

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MetaMask privacy updates: What users should know

MetaMasks new privacy features and updates allow users to configure their wallets according to their privacy preferences.

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