The company wants a federal court to declare that ETH (ETH) is not a security, any investigation of ConsenSys based on the idea that ETH is a security 'would violate' the company's fifth amendment rights and the Administrative Procedures Act, that MetaMask is not a broker under federal law, that MetaMask's staking service does not violate securities law and an injunction against the SEC investigating or bringing an enforcement action tied to MetaMask's Swaps or Staking functions.
Consensys denies that it acts as a broker, stating that the wallet is 'simply an interface' and 'neither holds customers' digital assets nor carries out any transaction functions.'
Consensys claims that it 'built its business against the backdrop of this regulatory consensus', and the SEC's new grab for power - which it calls an 'about-face' - over Ethereum would therefore 'violate the Constitutional requirement of fair notice under the Due Process Clause.'
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