The U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to ConsenSys, the developer behind the popular Ethereum wallet MetaMask, alleging that it is operating as an unlicensed broker-dealer. This development could potentially lead to a legal case against ConsenSys, with the SEC using the precedent from Blinder Robinson vs SEC 1982. The SEC's actions are part of a broader scrutiny of the cryptocurrency sector, including an investigation into ConsenSys's Ethereum sales and its implications for the classification of Ethereum as a security, referencing former SEC director Bill Hinman's 2018 speech. The situation has sparked significant concern within the crypto community about the potential impact on the industry in the U.S.
💬 Consensys’s lawsuit discusses former SEC director Bill Hinman’s 2018 speech on ether as one of the main reasons why Ethereum should not be classified a security. 😯 Here’s why, six years later, it is still relevant, according to @laurabrooksie1 🎧 https://t.co/sY5pO0w7UJ https://t.co/tgZ6goHcBD
MetaMask maker goes on offense following the warning of an impending enforcement action. The SEC says most cryptos are securities but has not clearly stated its position on ether by @ninabambysheva https://t.co/DFrDFt0TsW
🔥 “It could be catastrophic for crypto in the U.S.” 🚨 @laurabrooksie1 explains why @Consensys is challenging the @SECGov’s stance on #Ethereum. 🎧 Tune in to @Unchained_pod: Spotify 🎧 https://t.co/vAoUZsudNY Apple 🎧 https://t.co/VrQFgVYxJ4 🔗 https://t.co/WF2nCG9Ejj https://t.co/L8mFDhQ7bj
Following a Wells Notice, the SEC may be preparing to bring a case against Consensys https://t.co/yjDZkSc13q
SEC vs Consensys cont.: After digging into this I found this text - The @SECGov is investigating @Consensys over its Ethereum sales. The @SECGov is using precedent from Blinder Robinson vs SEC 1982 👀 https://t.co/nJppEfc3nv Lawyers please prepare. Hope this helps. More… https://t.co/q7t68FOeIy
SEC SERVED WELLS NOTICE TO METAMASK. REASON CITED BEING THE WORST FUCKING WALLET EVER
SEC served Consensys a Wells Notice for Metamask and they haven't even issued a token yet. Ridiculous.
Is Uniswap's clash with the SEC a watershed moment for crypto? 🌊🔒 This week on @_ChoppingBlock, we analyze the implications of Uniswap's SEC scrutiny, unexpected chaos at Token 2049, and the Bitcoin halvening's real impact! https://t.co/uZwETMAaaF
*SEC SERVED CONSENSYS WITH A WELLS NOTICE AND ALLEGED METAMASK IS OPERATING AS AN UNLICENSED BROKER DEALER: FORTUNE - THE BLOCK PRO