- Initially, the SEC argued that MetaMask effectively functioned as an unregistered broker, since users could perform swaps and use staking through the wallet.
- Separately, the regulator had attempted to challenge MetaMask’s integrations with Lido and Rocket Pool.
- This is a significant victory for ConsenSys. Had the SEC won, other non-custodial wallets with similar features could have also come under scrutiny.
- This is also positive for Ethereum. MetaMask remains one of the primary gateways to DeFi, NFTs, staking, and on-chain transactions.
- However, the issue isn’t fully closed. There was essentially no court ruling, so in the future, the SEC could theoretically return to a similar position.
Continue reading this article on source: cryptonews.com