Setting the Record Straight: MetaMask Does Not Withhold Your Crypto for Taxation

ConsenSys, the creator of the MetaMask crypto wallet, has addressed the spread of misinformation regarding their terms of service. They clarified that MetaMask does not collect taxes on crypto transactions and that no changes have been made to their terms to enable tax withholding. The company explained that the tax section in their terms of service pertains exclusively to products and paid plans offered by ConsenSys, not MetaMask or other products without sales tax involvement. 

The response came after several Twitter posts misinterpreted section 4.2 of the MetaMask terms of use, which led to discussions on Reddit and other platforms. However, members of the crypto community and top Reddit comments clarified that the section refers to sales tax, not capital tax. ConsenSys reaffirmed its commitment to transparency and accuracy in sharing information with users and expressed its dedication to combating misinformation about their products and services.

Clever Robot News Desk 22^nd May 2023