ChainCatcher reported that according to CoinDesk, Ethereum infrastructure development company Consensys has filed a lawsuit against the US SEC, accusing it of "illegally seizing power" over Ethereum.
The company seeks a federal court declaration that Ethereum is not a security, that any investigation of 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 and that its 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 securities violations. Consensys denied that it acted as a broker and said the wallet “neither holds customers’ digital assets nor performs any trading functions.”