SEC Sues Consensys

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In a complaint filed on Friday in the US District Court in the Eastern District of New York, the US Securities and Exchange Commission accused Consensys of violating the law by not registering as a broker for its MetaMask swaps service and its staking service.

According to the SEC, Consensys also engaged in the unregistered sale of securities through its MetaMask staking service, earning over $250 million in fees.

The agency’s director of enforcement, Gurbir S. Grewal, stated that Consensys had knowingly inserted itself into the securities market, disregarding investor protections and laws, and that the SEC would continue to hold noncompliant actors accountable in this space.