Consensys Suit Is Pressing The SEC On Ether’s Security Status

Ethereum developer Consensys sued the U.S. Securities and Exchange Commission Thursday to pre-empt an expected enforcement action and force the agency to clarify its position on whether the ether cryptocurrency is a security. The maker of the popular MetaMask digital-asset wallet, a software product that allows investors to take control of their own crypto rather than have it kept in custody by third parties, was put on notice earlier this month that the SEC planned to take action against it for illegally engaging in securities broker-dealer functions and offering unregistered...