Consensys is firing back against the SEC's categorization of ether.
Consensys Software Inc. is firing back against the U.S. Securities and Exchange Commission's categorization of ether.
"The U.S. Securities and Exchange Commission … seeks to regulate ETH as a security, even though ETH bears none of the attributes of a security — and even though the SEC has previously told the world that ETH is not a security, and not within the SEC’s statutory jurisdiction," Consensys said in the complaint.
Consensys says the SEC has decided that ETH is a security and said the agency has "trained its sights" on the firm's Metamask software. The firm also noted in the complaint that SEC staff sent Consensys a Wells notice earlier this month, meaning a formal notice that the agency plans to bring an enforcement action against them.
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