SEC Sues Consensys for Violations of Securities Exchange Act
by SEC vs. the WorldJuly 9th, 2024
Too Long; Didn't Read
Consensys is charged by the SEC with violations of the Securities Exchange Act and the Securities Act for operating as an unregistered broker and conducting unregistered securities sales through its MetaMask Swaps and MetaMask Staking platforms.
SEC v. Consensys Software Inc. Court Filing, retrieved on June 28, 2024, is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This part is 2 of 26.
VIOLATIONS
13. By engaging in the conduct set forth in this Complaint, including the operation of its MetaMask Swaps and MetaMask Staking platforms, Consensys has acted as a broker, without registering as such, in violation of Section 15(a) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 78o].
14. In addition, through the MetaMask Staking program, Consensys has engaged in unregistered offers and sales of securities in violation of Sections 5(a) and (c) of the Securities Act of 1933 (“Securities Act”) [15 U.S.C. §§ 77e(a) and 77e(c)].
15. Unless Defendant is restrained and enjoined, it will engage in the acts, practices, transactions, and courses of business set forth in this Complaint or in acts, practices, transactions, and courses of business of similar type and object.
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