Claim BonusMetaMask New Terms Goes Viral As It Can Withhold Consumer Funds To Pay Taxes
Crypto wallet MetaMask’s new terms of conditions going viral as it confuses and surprised the community. If you don’t pay taxes, Metamask reserves the right to withhold it from your Metamask wallet for the tax departments.
MetaMask and ConsenSys now face backlash for withholding consumer funds for paying taxes, which is against decentralization and financial freedom.
MetaMask Updated Terms Face Backlash From Crypto Community
According to new terms of service by MetaMask developer ConsenSys, fees payable by consumers are “exclusive taxes unless otherwise noted. We reserve the right to withhold taxes where required.”
MetaMask users are required to identify and pay all taxes, as well as government fees and charges. ConsenSys made some important changes to the Terms of Use related to ConsenSys offerings, including MetaMask in April 2023.
1inch co-founder earlier raised questions on the new MetaMask’s terms stating that MetaMask holds the right to withhold taxes.
Explain me new @MetaMask ToS:
4.3 Taxes. Each party will be responsible, as required under applicable law, for identifying and paying all taxes and other governmental fees and charges. (…) We reserve the right to withhold taxes where required. https://t.co/XA5Mt174Uk— Anton Bukov 🦇🔊 ⚖️ (@k06a) May 17, 2023
Also Read: Bitcoin Going To The Moon In 2023 Summer, Here’s What Elon Musk Says
Decentralization Is Dying
Decentralization is the primary principle of crypto. The crypto community took to Twitter to criticize the move by MetaMask, claiming it is against decentralization and financial freedom. Some even linked it to the Ledger controversy, saying the backdoor is for paying taxes and meeting other requirements as per the government’s rules and laws.
Metamask has not released any clarifications regarding the crypto community confusion. In December, ConsenSys faced backlash reading its data collection practices. It shared users’ transaction data alongside their IP addresses with its other product Infura. Metamask later updated the MetaMask wallet in response to the backlash.
Also Read: Ethereum Client Releases Pruning Update After Vitalik Buterin Updated The Roadmap
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Gold Surges to All-Time High of $4,600 As Chaos Erupts in Iran- Will BTC Follow Soon?
- Breaking: Tom Lee’s BitMine Adds 24,266 Ethereum Ahead of BMNR Vote Deadline
- Trump vs. Powell: Crypto Traders Bet Against Fed Chair’s Indictment Despite DOJ Probe
- Breaking: Michael Saylor’s Strategy Acquires 13,627 Bitcoin Ahead Of CLARITY Act Markup
- $850 Billion Standard Chartered To Set Up Prime Brokerage For Crypto Trading
- Bitcoin Price Prediction Amid DOJ Probe as Powell Indictment Fears Cool
- Why is Monero (XMR) Price Up Today?
- Binance Coin Price Target $1,000 as CZ Signals Incoming Crypto Super Cycle
- Bitcoin and XRP Price Prediction Ahead of Supreme Court Tariffs Ruling on Jan 14, 2026
- Crypto Price Prediction Ahead of US CPI Inflation Data- ETH, ADA, Pi Coin
- XRP Price Outlook Ahead of Jan 15 CLARITY Act Vote
