- The distribution of misinformation rapidly acquired momentum.
- ConsenSys clarified it exclusively collects sales taxes for particular compensated services and never for other purposes.
ConsenSys, the organization accountable for the crypto wallet MetaMask, has dispelled rumors regarding its assortment of taxes from cryptocurrency users. On May 22, the organization clarified these rumors stemmed from the misinterpretation of MetaMask’s tos, emphasizing the existence of any mistakes.
📢 We know about tweets circulating with any mistakes about ConsenSys’ tos.
Let us clarify one factor upfront: MetaMask doesn’t collect taxes on crypto transactions and we’ve not made any changes to the terms to do this.
This claim is fake.
— ConsenSys (@ConsenSys) May 21, 2023
Based on reports, ConsenSys addressed several Twitter updates that introduced focus on section 4.2 from the MetaMask relation to use. These posts claimed the section implied an adjustment that will enable the organization to retain taxes.
Within a brief period, the allegation acquired significant traction across different digital platforms. It received attention on Reddit’s r/CryptoCurrency subreddit, gathering over 450 upvotes and sparking greater than 500 comments. In addition, the claim spread to many prominent crypto news sites and acquired visibility online.
In the clarification, the organization emphasized the tax section in the tos exclusively pertained to products and compensated plans offered, without any link with on-chain crypto transactions.