Consensys Seeks Regulatory Clarity from SEC on Self-Custody Wallets

Consensys has submitted a comment letter to the U.S. Securities and Exchange Commission (SEC) regarding the latest interpretive framework for crypto assets. According to ChainCatcher, Consensys expressed concerns that the framework might create regulatory gaps, leading to compliance uncertainties for self-custody wallet providers like MetaMask. The company has requested that the SEC consider a targeted safe harbor or other exemptions to clarify that self-custody, user-driven interfaces supporting transactions of non-security crypto assets, which may involve investment contracts, do not need to register as broker-dealers. Consensys emphasized that this move is intended to ensure that U.S. users can continue to access open and neutral peer-to-peer blockchain tools.