{"id":33277,"date":"2024-06-28T18:28:14","date_gmt":"2024-06-28T18:28:14","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-files-lawsuit-against-consensys\/"},"modified":"2024-06-28T18:28:14","modified_gmt":"2024-06-28T18:28:14","slug":"sec-files-lawsuit-against-consensys","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-files-lawsuit-against-consensys\/","title":{"rendered":"SEC files lawsuit against Consensys"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-SEC-4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-SEC-4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-SEC-4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06-SEC-4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">The US Securities and Exchange Commission (SEC) has sued Consensys.<\/span><\/li>\n<li><span style=\"font-weight: 400\">SEC filed its lawsuit against the company on Friday, alleging unregistered broker dealer and offer of unregistered securities. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The US Securities and Exchange Commission (SEC) has sued Consensys, the Ethereum developer and software provider.<\/span><\/p>\n<p><span style=\"font-weight: 400\">On Friday, June 28, the SEC <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.nyed.517222\/gov.uscourts.nyed.517222.1.0.pdf\" target=\"_blank\" rel=\"noopener\">filed<\/a> a lawsuit against the company alleging Consensys has operated an unregistered broker dealer and offered unregistered securities. The regulator\u2019s complaint is also about MetaMasks services \u2013 crypto swaps and staking.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cConsensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities, thereby depriving investors of crucial protections that those laws afford,\u201d the SEC alleged in the filing.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">SEC highlights Lido, Rocket Pool staking<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The SEC notes in the complaint filed at the United States District Court Eastern District Of New York that the MetaMask Swaps service has operated since October 2020, while Consensys has offered staking programs via the crypto wallet and platform since January 2023.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cBy its conduct as an unregistered broker, Consensys has collected over $250 million in fees,\u201d the SEC argues.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The lawsuit mentions Polygon (MATIC), Chiliz (CHZ), the Sandbox (SAND), Mana (MANA), and Luna (LUNA) as some of the securities.<\/span><\/p>\n<p><span style=\"font-weight: 400\">SEC alleges that Lido (LDO) and Rocket Pool (RPL) staking programs are \u201cinvestment contracts and, therefore, securities.\u201d <\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the regulator, investors using the protocols expect profits with this coming from Lido and Rocket Pool\u2019s managerial efforts. But Lido and Rocket Pool have both not registered with the SEC.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Today\u2019s news comes a few days after Consensys said the <a href=\"https:\/\/coinjournal.net\/news\/sec-ends-investigation-into-ethereum-2-0-tokens-pump\/\">SEC had ended its investigation into Ethereum 2.0<\/a>. Consensys <a href=\"https:\/\/coinjournal.net\/news\/consensys-sues-sec-for-clarification-on-ethereum-eth-classification-as-a-security\/\">sued the regulator<\/a> in April seeking clarification over Ethereum.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Notably, SEC approved spot Ethereum ETFs in May.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/sec-files-lawsuit-against-consensys\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The US Securities and Exchange Commission (SEC) has sued Consensys. SEC filed its lawsuit against the company on Friday, alleging unregistered broker dealer and offer of unregistered securities. The US Securities and Exchange Commission (SEC) has sued Consensys, the Ethereum developer [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33278,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33277"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33277"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33278"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}