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Fortune
Fortune
Leo Schwartz

SEC sues MetaMask developer Consensys as it extends legal crusade against crypto industry

SEC ConsenSys United States Crypto Ethereum Lawsuit Coinbase Kraken
(Credit: Joe Buglewicz—Bloomberg/Getty Images)

On Friday, the Securities and Exchange Commission brought its latest lawsuit against the crypto industry, this time targeting Consensys, a blockchain firm focused on the Ethereum network best known for its MetaMask wallet product.

Echoing similar complaints brought against other crypto firms, such as Coinbase and Kraken, the SEC is alleging Consensys violated federal securities laws by failing to register as a broker and dealer while offering services for securities, ultimately collecting over $250 million in fees.

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