The Consensys case exposes the fundamental mismatch between blockchain tech and securities law. The SEC claims MetaMask Swaps 'effects transactions in securiti

The Consensys case exposes the fundamental mismatch between blockchain tech and securities law. The SEC claims MetaMask Swaps 'effects transactions in securities,' but can a smart contract be a broker? This isn't just about Consensys; it's about whether the '34 Act's definition of a broker can encompass code without breaking the entire DeFi ecosystem. Congress's silence forces courts to decide if 'protecting investors' requires stifling the very innovation that could democratize finance.