Consensys Fights Back Defending Ethereum Against SEC

• SEC’s use of Wells Notices without subsequent lawsuits raises questions on regulatory intent.
• Consensys denies SEC’s allegations, emphasizing MetaMask’s role as an interface, not a broker.
• Challenging the SEC’s authority over Ethereum, Consensys underscores regulatory inconsistencies.

Prominent crypto analyst on X (formerly Twitter), Mr. Huber, recently highlighted a curious pattern regarding the U.S. Securities and Exchange Commission’s (SEC) actions against Ethereum-related entities. He noted the issuance of Wells Notices, indicating impending enforcement actions, but observed a notable absence of actual lawsuits filed by the SEC. This observation raises questions about the regulator’s intentions and the perceived threat it poses to Ethereum and its affiliated projects.

See a pattern? A two-year-old Wells Notice, but no lawsuit has ever been filed. The SEC hasn't filed any lawsuit within years of issuing these Wells Notices. It looks like a ploy to me. They act as though they would threaten Ethereum, Lubin, and his token foundry like the rest of… https://t.co/WHGCa70IY9

— Mr. Huber (@Leerzeit) April 26, 2024

Consensys has now stepped into the fray by …

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