Consensys files lawsuit against SEC over Ethereum status [Yahoo! Finance]
Coinbase Global, Inc. - Class A (COIN)
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Source: Yahoo! Finance
The legal action, taken in the U.S. District Court for the Northern District of Texas, aims to block the SEC from labeling ETH as a security, a move Consensys argues could disrupt the Ethereum network and its operations. The company asserts that such a classification by the SEC would hinder the functionality of Ethereum's decentralized applications and services, potentially damaging the blockchain's utility in the United States. The lawsuit highlights the potential adverse effects of the SEC's approach on Consensys' MetaMask wallet, which allows users to manage ETH and other digital currencies. Consensys said that it has received a Wells notice and three subpoenas from the SEC, indicating the agency's intention to possibly pursue enforcement actions related to MetaMask's Swaps and Staking features, and suggesting that Consensys acted as an unregistered broker-dealer. The firm is requesting a judicial declaration that ETH is not a security and that its ETH sales are not securi
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COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/3/24 - Form 144
- 5/3/24 - Form 4
- 5/2/24 - Form 4
- COIN's page on the SEC website