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SEC Charges Ethereum Developer Consensys..."Metamask Violated Securities Laws"

The SEC filed a lawsuit against Ethereum developer Consensys on Monday. The SEC alleges that Metamask, a digital asset wallet released by Consensys, violated securities laws by acting as an unregistered securities broker. "Consensys violated the federal securities laws by acting as a securities broker and facilitating the offer and sale of certain securities without being registered with the Commission," the SEC's complaint states.

Metamask is a software hot wallet that supports various blockchain networks, including the Ethereum Mainnet (ERC-20). The SEC's indictment of Consensys comes about a month after the SEC closed an informal investigation into Consensys.

In March of this year, the SEC challenged the Ethereum Foundation over whether Ethereum was a security, and in April, Consensys sued the SEC. In its complaint, Consensys revealed that the SEC had attempted to classify MetaMask Wallet as a "broker" and Ethereum as a "security" and charge the Ethereum Foundation with securities law violations. The SEC closed its investigation into Consensys and the conflict between Consensys and the SEC appeared to be over, but the conflict has flared up again.

Consensys says it's not backing down. "The SEC has overstepped its jurisdiction," Consensys said in an official statement on Feb. 2, emphasizing that it will seek a clear ruling on the matter, which is important to the success of the Web 3.0 industry beyond our company.

“Zhao Changpeng's release from prison could boost BNB and 5 other altcoins”

With former Binance CEO Changpeng Zhao set to be released from prison on September 29th (local time), BeInCrypto reports that five altcoins are likely to see an uptick in value. BNB is one of the most prominent coins expected to see price movement following Zhao's release from prison.

blockchain crypto cryptocurrency French Hill blame Gary Gensler (SpotedCrypto)

French Hill : “SEC's approach to regulating crypto firms will only confuse markets”

During a hearing on the Securities and Exchange Commission (SEC) held by the U.S. House of Representatives' Financial Services Committee on March 18 (local time), Congressman French Hill criticized SEC Chairman Gary Gensler's approach to regulating cryptocurrency companies, saying that it is causing confusion and uncertainty

blockchain crypto cryptocurrency us fed ratecut 50bp (SpotedCrypto)

US Fed 'big cuts' interest rates by 0.5 percentage point to bring inflation closer to target, considers another 50 basis point cut later in the year.

The US Federal Reserve's (Fed) Federal Open Market Committee (FOMC) announced in an official statement that it will cut its benchmark interest rate by 0.5%. This is the first rate cut in nearly four years. The Fed raised rates from March 2022 through July of last year.

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