The US Securities and Exchange Commission sued the developer of the MetaMask wallet

The department believes that since January 2023, the company has been offering and selling unregistered securities through MetaMask Staking. The SEC complaint says the company collected more than $250 million in fees. The SEC alleges in the complaint that by facilitating investments in the Lido and Rocket Pool staking programs, Consensys acted as an intermediary in unregistered transactions, depriving investors of legal protections. Lido and Rocket Pool are classified as investment contracts in the lawsuit.

According to the agency, investors participating in staking programs invest ETH with a reasonable expectation of profit, however, neither Lido nor Rocket Pool have filed a registration statement with the SEC. The Commission demands a complete ban on the MetaMask Staking service, Previously, the US Supreme Court limited the powers of the Securities and Exchange Commission to single-handedly issue guilty verdicts in cases brought by the agency.