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FBI cautions against non-KYC Bitcoin and crypto money transmitting services as SEC goes after MetaMask

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Ethereum,Bitcoin

US Federal Bureau of Investigations (FBI) has issued a caution to Bitcoiners and cryptocurrency market enthusiasts, coming on the same day as when the US Securities and Exchange Commission (SEC) is on the receiving end of a lawsuit, with a new player adding to the list of parties calling for the regulator to restrain its hand.

FBI has warned US market against using unregistered Bitcoin and crypto money service businesses. US SEC has accused MetaMask of acting as an unlicensed Broker Dealer engaged with trading securities on behalf of clients. Consensys has sued the SEC first for being unlawful, calling for the regulator to stop overextending its authority.

has accused MetaMask of acting as an unlicensed BrokerDealer. pic.twitter.com/9HskcwnLs0 — Radar April 25, 2024 MetaMask did not immediately respond to FXStreet’s request for comment. As if to push back, Consensys, the Ethereum startup behind MetaMask wallet defends that the SEC is overreaching its hand, trying to “seize control over the future of cryptocurrency. Today, Consensys filed a lawsuit against the Securities and Exchange Commission.

 

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