(c) Copyright Thomson Reuters 2024
By Hannah Lang and Kanishka Singh
WASHINGTON (Reuters) – The U.S. Securities and Alternate Fee on Friday sued cryptocurrency agency Consensys, alleging it has did not register as a dealer via its MetaMask swaps service.
Consensys additionally did not register the supply and sale of sure securities via its crypto staking applications, which permit customers to lock up tokens for a sure time period in alternate for yield, the SEC stated.
The regulator stated in its grievance, which was filed in U.S. District Courtroom in Brooklyn, New York, that Consensys had collected greater than $250 million in charges via “its conduct as an unregistered dealer.”
Consensys operates the favored MetaMask self-custodial crypto pockets, which permits crypto house owners to retailer their belongings in addition to purchase, ship and swap tokens.
Consensys didn’t instantly reply to a request for remark.
In April, Consensys sued the SEC after the agency stated it acquired a proper discover from the company that it deliberate to convey an enforcement motion in opposition to the corporate. Within the lawsuit, Consensys stated the SEC was making an attempt to “unlawfully regulate” ether — the world’s second largest cryptocurrency — via enforcement actions.
Consensys stated by way of a social media publish on June 19 that it had acquired discover that the SEC had closed its investigation into the corporate. Nonetheless, the corporate stated it could proceed its lawsuit in pursuit of a court docket ruling that the SEC doesn’t have authorized authority to control software program interfaces constructed on the ethereum blockchain.
(Reporting by Kanishka Singh in Washington and Hannah Lang in New York)
Disclaimer: This report is auto generated from the Reuters information service. ThePrint holds no responsibilty for its content material.
