MetaMask maker goes on offense following the warning of an impending enforcement action. The SEC says most cryptos are securities but has not clearly stated its position on ether.
The SEC is expected to reject spot Ether ETF applications next month, following recent meetings wherein the regulator's staff reportedly did not proactively engage with applicants.
Ethereum developer Consensys has filed a lawsuit against the U.S. Securities and Exchange Commission, striking back against what the company calls an “unlawful seizure of authority” over Ethereum by the federal regulator.
The complaint highlights how the SEC is attempting to unlawfully regulate ether through ad hoc enforcement actions against Consensys and possibly others -- the latest examples of aggressive and unlawful SEC overreach.