The Block Crypto News11 minutes ago

Published on April 25, 2024 19:07 GMT+00:00edited on April 25, 2024 19:09 GMT+00:00

Consensys Software Inc. is firing back against the U.S. Securities and Exchange Commission's categorization of ether. 

The blockchain and web3 development company behind the well-known MetaMask Wallet filed a lawsuit against the agency on Thursday in a Texas court. 

"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. 

The question of whether the SEC has jurisdiction over Ethereum has come to the forefront over the past few weeks as reports have come out that the agency is subpoenaing companies that deal with the …