(2024)
SEC v. Consensys
Year
2024
Criminal or Civil
Civil
Year Resolved
N/A (Case filed June 28, 2024)
Jurisdiction (Court/State)
U.S. District Court for the Eastern District of New York
Filed By
U.S. Securities and Exchange Commission (SEC)
Penalty/Fine (USD)
To be determined (pending litigation outcome)
Lawsuit Overview
The SEC charged Consensys Software Inc. with the unregistered offer and sale of securities via MetaMask Staking and for operating as an unregistered broker through MetaMask Staking and MetaMask Swaps. The agency alleges that Consensys facilitated the distribution of liquid staking tokens (stETH and rETH) from Lido and Rocket Pool, collecting transaction-based fees while failing to comply with federal securities registration requirements.
Category
Securities Law Violation, Unregistered Broker Activity, Staking Services
Notable Individuals Involved
Gurbir S. Grewal (SEC Enforcement Director)
Daphna Waxman, Amy Mayer, Abigail Cooper (SEC Investigators)
Samuel Wasserman (SEC Litigation Counsel)
Investor Loss Estimate
Not explicitly stated; Consensys allegedly facilitated “tens of thousands” of securities transactions and collected “hundreds of millions” in fees
Final Outcome
Pending
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