tl;dr
The U.S. SEC filed a lawsuit against Consensys, alleging that its MetaMask service violated federal securities laws by acting as an unregistered broker. The lawsuit also targeted Ethereum staking services Lido and Rocket Pool, referring to their tokens as unregistered securities. The SEC's enforceme...
The U.S. SEC filed a lawsuit against Consensys, alleging that its MetaMask service violated federal securities laws by acting as an unregistered broker. The lawsuit also targeted Ethereum staking services Lido and Rocket Pool, referring to their tokens as unregistered securities. The SEC's enforcement action reflects its broader attempt to classify a range of crypto assets as securities.
Consensys, led by Ethereum co-founder Joe Lubin, had previously sued the SEC over potential regulatory issues. The lawsuit comes after Consensys announced the end of SEC investigations into the company, indicating that enforcement actions could still be pursued.
The U.S. Securities and Exchange Commission sued Ethereum software provider Consensys over its MetaMask service Friday, alleging the wallet tool was an unregistered broker that "engaged in the offer and sale of securities." The SEC suit also targeted Ethereum staking services Lido (LDO) and Rocket Pool (RPL). The enforcement action represents the SEC's latest attempt to categorize a broad swath of the crypto market as securities.
MetaMask, the most-used wallet for Ethereum and other blockchains, allows users to buy and sell digital assets directly in-app via its "Swaps" service, which is a key feature at issue in the SEC's lawsuit. The SEC's lawsuit, filed in the U.S. courthouse in the Eastern District of New York, claims that Consensys facilitated millions of crypto transactions, with a significant number involving "crypto asset securities."
The SEC also scrutinized MetaMask's "staking" feature, powered by Lido and Rocket Pool, suggesting that the agency views their popular liquid staking tokens as unregistered securities. Consensys has been vocal in its response to the lawsuit, labeling the SEC's actions as regulatory overreach and an attempt to expand its jurisdiction via legal action.
Friday's lawsuit comes after Consensys previously sought judicial relief against the SEC's potential actions regarding MetaMask and its staking service. The company remains confident in its position and is determined to pursue its case, emphasizing the significance of these legal issues for the future success of web3.
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Sector: Technology
Industry: Oil & Gas Field Machinery & Equipment
Market Cap: 205.26B
Dividend Yield: None
Beta: -2.36
Current Price: $70.19
Price Change: -3.42%
Volume: 752.30M
Relative Strength Index (RSI): 30
Price/Earnings Ratio: -0.578
Earnings per Share: $0.071
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Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 86,495,000
Dividend Yield: None
Revenue (ttm): -0.16
EPS (ttm): 1.918
Profit Margin: -0.127
Volume: 106,582,000
50-Day Moving Average: 4.88
200-Day Moving Average: 3.42
Price Change over 52 weeks: 0.148
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- Dividend Yield: 1%
- PE Ratio: 8.91
- EPS: $26.44
- Beta: 0.34
- Volume: 8.08 billion
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- 50-Day Moving Average: -0.438
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Industry: ENERGY & TRANSPORTATION
Primary Business: GOLD AND SILVER ORES
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Price Change: 0.061
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YTD Return: -0.027
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Market Cap: 122,481,000
Dividend Yield: None
EPS: None
P/E Ratio: -0.03
Volume: 116,614,000
Stock Price: $3.487
Change: -0.0182
Net Change: 9.13
% Change: -0.676
YTD Change: 0.053