On May 22, MetaMask took to Twitter to address its 270,000 followers, debunking rumors that had surfaced based on a misreading of its terms of service.
In response to inaccurate information circulating on social media, ConsenSys clarified the situation, stating unequivocally, “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.”
The issue originated from a screenshot of MetaMask’s terms and conditions, specifically section ‘4.3 Taxes,’ which mentioned the firm’s right to withhold taxes where necessary. However, ConsenSys explained that these terms were not new and applied to products subject to sales tax, such as Infura’s credit card developer subscriptions.
ConsenSys emphasized that the tax section did not pertain to MetaMask or any other products not involving sales tax. The company reassured its commitment to combat misinformation surrounding its products and services.
This is not the first time ConsenSys faced scrutiny over its terms and conditions. In November, an updated privacy policy sparked controversy as it revealed Infura’s collection of additional user data. Following public backlash, ConsenSys revised the privacy policy, clarifying that MetaMask only uses IP data for routing.
Meanwhile, ConsenSys reported a data breach affecting approximately 7,000 MetaMask users in April. With over 20 million users, MetaMask has become a prime target for scammers, hackers, and phishing attacks.
As crypto markets experience a slight retreat during Monday’s Asian trading session, with a 1.4% decrease in total capitalization to $1.16 trillion, both Bitcoin and Ethereum are down marginally, maintaining a sideways overall outlook.
Also Read: Now Buy Ethereum with PayPal on MetaMask
