MetaMask Portfolio & Swaps (Consensys): US Fees, 50-State Legality, NMLS & Orderbook Audit
- FinCEN MSB & NMLS ID
- Partner/Exempt · NMLS #N/A (51 MTLs)
- NYDFS BitLicense Status
- Non-custodial software wallet available nationwide; SE
- Pro Maker / Taker Fee
- No Separate CLOB (0.88%)
- Simple Buy Fee + Spread
- 0.88% Fee + ~25 bps Spread
- ACH Deposit & Hold Lock
- 0.00% (via Robinhood Connect / Coinbase Pay) Deposit · 3–7 Business Day Withdrawal Hold
- 2026 IRS Tax Reporting
- Public Wallet Address Sync (EVM CSV/API) (Per-wallet cost-basis tracking under Rev. Proc. 2024-28 (no 1099-DA issued by non-custodial software after the 2025 CRA repeal of the IRS DeFi broker rule, but all swaps remain taxable on Form 8949))
▣ VERIFIED 1200×675 QUANT DOSSIER SNAPSHOT CARD[EXPAND TERMINAL PREVIEW ▾]
MetaMask Portfolio & Swaps Execution Cost Curve: $100 to $50,000 (Simple vs Pro Orderbook vs US Median)
Verified Fee + Spread Benchmark1. US Regulatory Passport & Custodial Protection
No BitLicense| Benchmark Parameter / Attribute | Verified 2026 US Provision & Specification |
|---|---|
| Legal Entity | Consensys Software Inc. |
| US Headquarters | Fort Worth, TX |
| FinCEN MSB Status | Non-custodial wallet & smart-contract aggregator developed by Consensys Software Inc. (Texas HQ); fiat ramps via PayPal, MoonPay, Robinhood Connect, Sardine, Banxa, and Transak. |
| NMLS Consumer Access | Not Applicable / Partner Custodian (51 State MTLs) |
| New York NYDFS | Non-custodial software wallet available nationwide; SEC agreed in Feb 2025 to dismiss its lawsuit regarding MetaMask Swaps & Staking. |
| FDIC / Cash Sweep | 100% self-custody EVM & multi-chain wallet supporting Ledger, Trezor, Keystone, and Lattice1 hardware wallets. |
SEC, CFTC & State Regulatory Enforcement History
- 2025-02-27 (SEC): SEC stipulated to dismiss its June 2024 civil enforcement lawsuit against Consensys Software Inc. regarding MetaMask Swaps and MetaMask Pooled Staking with zero fines. (Official Docket)
2. Simple App vs Pro Orderbook Cost Calculator
Simulate one-way execution cost + spread across trade sizes and funding rails.
| Fee Metric | Schedule | Scenario Benchmark | Round-Trip USD |
|---|---|---|---|
| ACH Deposit / Withdrawal | 0.00% (via Robinhood Connect / Coinbase Pay) / 1.00% (Cash-out to PayPal/ACH via partner) | $100 Buy + Sell (Retail) | $2.25 |
| Fedwire Deposit / Withdrawal | / | $1,000 Buy + Sell (Retail) | $22.50 |
| Debit Card / Apple Pay | 3.50% | $1,000 Buy + Sell (Pro Tier) | $22.50 |
| $100/mo Recurring DCA (1 yr) | $27.00/yr | $10,000 Buy + Sell | $225.00 |
3. 51-Jurisdiction US Availability & Staking Restrictions Grid
Available in all 50 US states + DC; following the Feb 2025 SEC dismissal and April 2025 Congressional Review Act repeal of the IRS DeFi broker rule, non-custodial wallets do not issue 1099-DA forms.
4. CFPB Complaint Profile & Proof-of-Reserves
CFPB Virtual Currency Complaints: No standalone company-level complaint cluster in the top 25 CFPB virtual currency entities (or routed via partner bank/custodian).
Custodial Reserve Verification: Assets held via regulated US qualified custodians or self-custody architecture; see Live PoR Monitor.
Compare with category peers: MoonPay US · Transak US · Ledger Live US · Trezor Suite US · Open Full MetaMask Swaps Legit & Safety Audit →
5. IRS Form 1099-DA Tax Reporting & US Product Capabilities
| Benchmark Parameter / Attribute | Verified 2026 US Provision & Specification |
|---|---|
| IRS Tax Forms Issued | Public Wallet Address Sync (EVM CSV/API) |
| Default Cost Basis Method | Per-wallet cost-basis tracking under Rev. Proc. 2024-28 (no 1099-DA issued by non-custodial software after the 2025 CRA repeal of the IRS DeFi broker rule, but all swaps remain taxable on Form 8949) |
| Tax API Integrations | Koinly, CoinTracker, CoinLedger, TokenTax |
| Self-Custody Withdrawal | Supported · Lightning: No |
| US Staking & Yield | Pooled & validator ETH staking via MetaMask Portfolio (~3.2% APY) |
| CFTC Regulated Derivatives |
Who Should Choose vs. Who Should Avoid MetaMask Portfolio & Swaps (2026 Decision Matrix)
2026 US Execution & Compliance Matrix| US Trader / Investor Profile | Who Should Choose (Optimal Use Case) | Who Should Avoid (Cost or Regulatory Friction) | Recommended Execution Protocol |
|---|---|---|---|
| Active Spot USD Traders ($1k–$50k) | Choose Users seeking simplified onramp dex execution across 10000 supported assets. | Avoid Traders clicking the default Retail Simple Buy button (0.88% + 25 bps = $22.50 per $1k). | Always toggle to a Pro Central Limit Order Book (Kraken Pro, Coinbase Advanced, or Gemini ActiveTrader) before executing. |
| New York & Restricted State Residents | Choose NY residents (Supported under Non-custodial software wallet available nationwide; SEC agreed in Feb 2025 to dismiss its lawsuit regarding MetaMask Swaps & Staking.) and residents in 51/51 licensed states. | Avoid Residents of restricted jurisdictions (None — available in all 50 states + DC). | Use NYDFS BitLicense holders (Coinbase, Gemini, Robinhood, Bitstamp US, Cash App) if domiciled in New York. |
| Automated Recurring DCA Accumulators | Choose Long-term accumulators aware of the $27.00/year cost on $100/month recurring buys. | Avoid Buyers funding recurring purchases via Visa/Mastercard debit cards (3.50% card surcharge). | Fund via $0.00 Plaid ACH or use zero-fee recurring BTC DCA on River or Strike. |
| Self-Custody Hardware Wallet Users | Choose Investors who wait for the 3–7 business day ACH hold to clear before withdrawing (Supported) to Coldcard, Trezor, or Ledger. | Avoid Users needing same-day off-platform crypto withdrawal who deposit via standard ACH instead of same-day Fedwire. | Use incoming Fedwire (None) for zero-hold same-day settlement and immediate self-custody withdrawal. |
Microstructure & Fee Architecture on MetaMask Portfolio & Swaps (Consensys): Operating in the United States as Consensys Software Inc. (Fort Worth, TX), MetaMask Portfolio & Swaps structures its retail and institutional pricing across distinct execution tiers. On the retail instant-buy interface, orders incur a 0.88% nominal fee plus an embedded principal spread averaging 25 basis points—resulting in a round-trip cost of $2.25 on $100, $22.50 on $1,000, and $225.00 on $10,000. By contrast, routing orders through 0.875% MetaMask Swaps aggregator service fee (routes across Uniswap, 1inch, ParaSwap, AirSwap, Curve) brings round-trip $1,000 execution down to $22.50.
US Banking Rails, Nacha ACH Holds & Fedwire Finality: MetaMask Portfolio & Swaps charges 0.00% (via Robinhood Connect / Coinbase Pay) for Automated Clearing House (ACH) deposits and 1.00% (Cash-out to PayPal/ACH via partner) for ACH withdrawals. While Plaid OAuth linking grants immediate trading credit, Nacha return risk rules (codes R01/R10) require a 3 to 7 business day clearing hold before purchased digital assets can be withdrawn on-chain. Institutional or high-net-worth traders requiring same-day settlement without withdrawal locks should utilize Fedwire (None deposit / None withdrawal).
50-State + DC Licensing & Custody Protection: MetaMask Portfolio & Swaps maintains 51 state Money Transmitter Licenses (NMLS #Exempt) and serves 51 of 51 US jurisdictions. Regarding fiat protection: 100% self-custody EVM & multi-chain wallet supporting Ledger, Trezor, Keystone, and Lattice1 hardware wallets. Spot cryptocurrency balances are not covered by FDIC or SIPC insurance and rely on UCC Article 8 custodial segregation or direct self-custody withdrawal.
2026 IRS Form 1099-DA & Rev. Proc. 2024-28 Compliance: Under Treasury Decision 10000 (IRC §6045), MetaMask Portfolio & Swaps issues Public Wallet Address Sync (EVM CSV/API) for covered US digital asset dispositions using Per-wallet cost-basis tracking under Rev. Proc. 2024-28 (no 1099-DA issued by non-custodial software after the 2025 CRA repeal of the IRS DeFi broker rule, but all swaps remain taxable on Form 8949) accounting. US taxpayers must reconcile wallet-by-wallet cost basis lots under IRS Revenue Procedure 2024-28 using supported tax APIs (Koinly, CoinTracker, CoinLedger, TokenTax).
Frequently Asked Questions (US Regulatory & Execution Reference)
VERIFIED Q&A PROTOCOLIs MetaMask Swaps legal in the United States and available in New York?
MetaMask Swaps (Consensys Software Inc.) is available in 51 out of 51 US jurisdictions. In New York, it is legally available under Non-custodial software wallet available nationwide; SEC agreed in Feb 2025 to dismiss its lawsuit regarding MetaMask Swaps & Staking..
How much does it cost to buy $1,000 of Bitcoin on MetaMask Swaps?
On MetaMask Swaps, a $1,000 round-trip trade costs approximately $22.50 using the standard retail interface (0.88% fee + ~25 bps spread) vs $22.50 on its 0.875% MetaMask Swaps aggregator service fee (routes across Uniswap, 1inch, ParaSwap, AirSwap, Curve).
Does MetaMask Swaps issue IRS Form 1099-DA for 2026 crypto taxes?
Yes, MetaMask Swaps tax reporting outputs Public Wallet Address Sync (EVM CSV/API) using Per-wallet cost-basis tracking under Rev. Proc. 2024-28 (no 1099-DA issued by non-custodial software after the 2025 CRA repeal of the IRS DeFi broker rule, but all swaps remain taxable on Form 8949) and integrates with Koinly, CoinTracker, CoinLedger, TokenTax.
How does MetaMask Swaps US Review impact 2026 IRS Form 1099-DA and Rev. Proc. 2024-28 tax reporting?
For the 2026 tax year, regulated US digital asset brokers report gross proceeds and covered cost basis on IRS Form 1099-DA under IRC Section 6045. Taxpayers interacting with MetaMask Swaps US Review must maintain wallet-by-wallet (or account-by-account) cost-basis lot allocation under IRS Revenue Procedure 2024-28 and reconcile dispositions on Form 8949 and Schedule D.
What is the difference between Retail Instant Buy and Pro Orderbook execution for MetaMask Swaps US Review?
Across audited US platforms relevant to MetaMask Swaps US Review, standard retail 'Simple' or 'Instant Buy' widgets embed a 100 to 200 bps principal spread on top of a 0.99%–1.49% convenience fee (~$18–$29 per $1,000). Routing the exact same USD deposit through a Central Limit Order Book (CLOB) such as Kraken Pro, Coinbase Advanced, Gemini ActiveTrader, or Bitstamp US reduces total execution cost to 20–60 bps ($2.00–$6.00 per $1,000).
FinCEN / NMLS / Form 1099-DA Execution Checklist
Toggle each statutory & orderbook execution check before routing USD via ACH or Fedwire:
State MTL, BitLicense & Fee Schedule Alert Wire
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