The post Lido DAO (LDO) dips after SEC goes after Consensys for Metamask services appeared on BitcoinEthereumNews.com.

SEC sues Consensys for the services provided on Metamask, a popular Ethereum wallet The commission also claimed that the blockchain developer acted as an unregistered broker dealer for selling “thousands of unregistered securities” for Lido and Rocket Pool Lido DAO, the liquid staking platform solution for Ethereum, became one of the highlights of the day an US authority took legal action against prominent crypto players. The authority in question is the United States Securities and Exchanges Commission, which released a press release announcing legal action against Consensys. The regulatory authority took action against the blockchain developer company because of the product offerings on Metamask, a popular Ethereum wallet developed by Consensys. The SEC alleges that Consensys engaged in the, “unregistered offer and sale of securities through a service it calls MetaMask Staking and with operating as an unregistered broker through MetaMask Staking and another service it calls MetaMask Swaps.” Notably, the crypto market has been expecting the SEC to take a legal action against Consensys. The firm had received a Wells Notice in April with regard to Metamask and only recently did it also confirm that an action with regard to Ethereum was unlikely. SEC concurrently takes aim at Lido and Rocket Pool Moreover, the commission also took aim at Lido (LDO) and Rocket Pool (RPL), liquid staking protocols. The regulator claimed that by provided services to these platforms, Consensys acted as an “unregistered broker dealer”. Read Lido DAO’s [LDO] Price Prediction 2023-24 Notably, Metamask’s Staking Service feature allows users to stake through Lido and Rocket Pool, thereby drawing the attention of SEC towards these protocols. Additionally, the commission has claimed that the blockchain company has “collected over $250 million in fees” from its “unregistered broker activities”. It said, “Consensys has offered and sold tens of thousands of unregistered securities on behalf…

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Filed under: News - @ June 29, 2024 6:26 am