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  • Blockchain Timeline

The company behind MetaMask Wallet is suing the SEC to prove ETH is not a security

Consensys, the firm behind the most popular Ethereum Wallet, MetaMask, filled a lawsuit against the SEC in Texas federal court. The company aims to prove indefinitely that ETH is not a security. The SEC is claiming that MetaMask is operating as an unlicensed broker dealer and objects to MetaMask offering users a means to stake Ethereum on their behalf.

The Consensys lawsuit was filed in Texas, which has shown greater skepticism of agency actions than other courts. The SEC can now choose to file a lawsuit on its own or resolve the issue with Consensys in the Texas court.


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