In the last half hour, breaking news updates have flooded in. The US is working intensely today. As it is the last day of the week, SEC employees are pressing all the buttons before closing their screens. For those asking for the main point, there are some important issues.
Cryptocurrency Breaking News
SEC has now sued Consensys. The company behind MetaMask had already received a Wells Notice. This was related to the unauthorized integration of staking and swap capabilities into the wallet service. SEC views unregistered staking services and swap activities as crimes. There are already lawsuits regarding unregistered securities sales and staking services for securities.
After the approval of the ETH ETF, the institution, which hinted it would leave the Ethereum ecosystem alone, seems to have changed its mind. Hours after Biden’s live broadcast defeat against Trump, news of a lawsuit against the crypto giant arrived.
Moreover, Lido and Rocketpool staking services are also considered unregistered investment contracts/securities. During the Merge process, both staking platforms made massive gains. Now it’s time for these to be returned to the US.
In short, the SEC is taking action against the largest crypto wallet and the two largest staking platforms on the Ethereum network. At this stage, we will all see what kind of process we will go through after the ETH ETF listing. There will be an ETF on the exchange, and while fighting with the SEC, its price will fluctuate through the institution. Another rare case of its kind….
