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The U.S. Securities and Exchange Commission sued Ethereum infrastructure provider Consensys on Wednesday for allegedly failing to register key services offered within its MetaMask software wallet.on Wednesday, the SEC claimed that Consensys engaged in the “unregistered offer and sale of securities” through its MetaMask Stakng service. That includes “tens of thousands of unregistered securities” on behalf of both Lido and Rocketpool – the liquid staking providers with which Lido is integrated.
Consensys inserted itself squarely into the U.S. securities markets while depriving investors of the protections afforded by the federal securities laws,” said Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, in an accompanying statement. Yet the crypto giant’s fight hasn’t ended. Prior to Friday’s announcement, Consensys had pre-emptively sued the SEC seeking a court declaration that its staking and swap services do not violate securities laws.Coinbase too has been sued by the agency for offering unregistered brokerage services through both its centralized exchange and its Ethereum-based mobile wallet app. Allegations related to Coinbase wallet, however, were already thrown out of court.
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