SEC files latest enforcement lawsuit against crypto firm Consensys as it seeks to apply established rules to digital assets.
The US Securities and Exchange Commission has sued cryptocurrency firm Consensys as it continues an industry-wide crackdown in an attempt to apply existing financial rules to the largely unregulated space.
The popular MetaMask self-custodial crypto wallet allows crypto owners to store their assets as well as buy, send and swap digital assets.
In April Consensys tried to pre-empt SEC action by suing the agency in a Texas court alleging overreach by the agency.
It said the lawsuit followed three subpoenas last year as well as a Wells notice informing the company of a planned enforcement action.
On 19 June Consensys said it had received notice that the SEC was dropping its investigation, but said it would continue the Texas case in order to establish legally that the SEC does not have legal authority to regulate software inteerfaces build on the Ethereum blockchain.
This Cyber News was published on www.silicon.co.uk. Publication date: Mon, 01 Jul 2024 12:43:04 +0000