MetaMask developer ConsenSys says Crypto Wallet does not collect taxes on blockchain transactions
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MetaMask developer ConsenSys dispels rumors that it collects taxes on crypto transactions.
The Blockchain Software Company says its 270,700 Twitter followers that the tax rumor circulating on social media is simply not true.
“We are aware of tweets circulating with inaccurate information about ConsenSys’ terms of use. Let’s clarify one thing up front: MetaMask does NOT collect taxes on crypto transactions, and we haven’t made any changes to our terms to do so. This claim is false.”
ConsenSys says the inaccurate claim is based on a misreading of MetaMask’s terms of service. They say that the tax provisions only apply to the sales tax charged on their own products and services. They also note that they are not new provisions in the terms of service.
“At ConsenSys, our goal is to make Web3 universally easy to use, access, and build on throughout our product line. It’s important to note that the terms referenced are not new. They apply to our sales tax products. The tax section of our Terms of Service falls under the “fees and payment” section and applies only to products and paid plans offered by ConsenSys.
For example, Infura has credit card developer subscriptions that include transaction fees. Legal terminology can be complicated, but it is important to emphasize that this section DOES NOT APPLY to MetaMask or other products that do not involve VAT.”
ConsenSys promises to be transparent with its customers and to correct any incorrect information in time. The company also advises people with questions about its products and services to contact them.
“We believe in transparency and accuracy when it comes to sharing information with our users.
Our commitment to combating misinformation about our products and services remains unwavering. We encourage everyone to visit our website to learn more about our products and contact us if you have any questions or concerns.
We value the community’s trust and appreciate your continued support. Rest assured, we will always strive to provide you with reliable and truthful information.”
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