Blockchain firm ConsenSys, the parent company of MetaMask, a self-custodial wallet, has denied collecting taxes on crypto transactions, nor has it amended its terms of service to implement such actions. The firm clarified that the information is false, and was based on inaccurate data. Several users had raised concerns on social media that MetaMask was withholding customers’ crypto assets to meet tax obligations, following claims that Section 4.3 of their terms of service allows for taxes to be withheld when necessary. ConsenSys stated that the section falls under fees and payment section, and does not apply to products not involving sales tax. The company admitted to a privacy breach last year when it collected users’ IP addresses and Ethereum wallet addresses.
About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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