SEC tries to expand crypto jurisdiction with Consensys lawsuit
The United States Securities and Exchange Commission ( SEC ) has filed a lawsuit against Consensys, alleging that its MetaMask Swap service made it an unregistered broker. This lawsuit from the SEC comes after Consensys’ lawsuit against the SEC in April. MetaMask Swaps is a platform that helps facilitate trades of various crypto currency assets by aggregating quotes from different decentralized exchanges and market makers. It enables the user to easily select the best price in exchange for a small fee paid to Consensys. The complaint alleges that Consensys, through the Swaps platform, has ‘collected fees worth over $250 million.’ It also claims that some of these liquidity providers ‘may share a portion of the fees it charges investors.’ ConsenSys says the SEC designated ETH a security but won’t say where Read more: One year on, the SEC can finally sue Binance — for the most part According to the complaint, Consensys ‘exercise...