According to Techub News, Coindesk reported that Ethereum infrastructure development company Consensys sued the U.S. SEC, accusing it of "illegal power grabbing" of Ethereum.
The company wants a federal court to declare that Ethereum is not a security, that any investigation into ConsenSys based on the idea that Ethereum is a security "would violate" the company's Fifth Amendment rights and the Administrative Procedure Act, that MetaMask is not a broker-dealer under federal law, that MetaMask's staking service does not violate securities laws, and an injunction prohibiting the SEC from investigating or taking enforcement actions related to MetaMask's exchange or staking features.
In a lawsuit filed Thursday against the SEC and all five of its commissioners, Consensys revealed that it received a Wells Notice from the SEC on April 10, indicating that the SEC intends to take enforcement action against the company’s MetaMask wallet product for violations of securities laws. Consensys denies acting as a broker and says the wallet is “simple and interface” and “neither holds customers’ digital assets nor performs any trading functions.”