The parent company of the MetaMask wallet application has denied rumors about its role as a tax agent and the company’s forced withholding of taxes from crypto asset owners.
The MetaMask team assures that
tweets, promoting such messages, mislead users of the crypto wallet. Because the authors of social media posts are not well versed in legal terminology, they confuse fiscal functions with credit-paid products and paid plans, such as Ethereum API Infura subscriptions.
We are aware of tweets circulating with inaccurate information about ConsenSys’ terms of service.
Let’s clarify one thing upfront: MetaMask does NOT collect taxes on crypto transactions and we have not made any changes to our terms to do so.
This claim is false.
— ConsenSys (@ConsenSys) May 21, 2023
ConsenSys recalled that the lack of taxation of crypto investors in the MetaMask ecosystem does not exempt owners of crypto assets from self-submission of reports to the tax authorities and payment of income tax.
In April, MetaMask clients were the victims of a phishing attack that resulted in attackers gaining unauthorized access to the personal information of approximately 7,000 users.
Source: Bits
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