BCGAME - Free 5BTC Daily Bonus!The U.S. Securities and Exchange Commission (SEC) recently filed suit against the Consensys. In its legal action, the regulator alleged that the company did not register as a broker through its swaps service. Dappradar.
Furthermore, according to a document filed on June 28 by the SEC in the US District Court for the Eastern District of New York, Consensys also violated legislation through its MetaMask staking service.
“The Securities and Exchange Commission today charged Consensys Software Inc. with engaging in the unregistered offer and sale of securities through a service it calls MetaMask Stake and with operating as an unregistered broker-dealer through MetaMask Stake and another service which he calls MetaMask Swaps,” he wrote.
According to the complaint, the company was involved in the unregistered offer and sale of securities in the form of Staking of crypto assets, in addition to operating in the country as an unregistered broker, through MetaMask Stake.
“By allegedly charging hundreds of millions of dollars in fees as an unregistered broker-dealer and engaging in the unregistered offering and selling of tens of thousands of securities, Consensys has inserted itself directly into the U.S. securities markets while deprived investors of the protections provided by federal bonds. laws”, said Gurbir S. Grewal, Director of the Division of Enforcement SEC.
Consensys plans to file suit against SEC
After celebrating Ethereum's recent victory under the US Securities and Exchange Commission (SEC), Consensys has reportedly plans to continue moving forward with its case against the regulator. According to information from Fox Business reporter Eleanor Terrett, who cited Consensys founder Joseph Lubin, the company is expected to pursue a lawsuit against the SEC.
According to the information, Lubin highlighted that the completion of the SEC investigation into Ethereum 2.0 is a “necessary but not sufficient” development. According to the founder of Consensys, the company will continue with the litigation to obtain more legal clarity for the cryptocurrency industry.
