Consensys is suing the SEC, and the judge has now set a timetable for the proceedings.
Legal Dispute Progress
In the ongoing legal dispute between the SEC and Consensys, Judge Reed O’Connor has established a schedule for the submission of briefs by the involved parties.
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Submission Deadlines
- Consensys Opening Brief: Due by September 20, 2024
- SEC Response: Due by November 1, 2024
Attorney Bill Hughes anticipates a ruling by Christmas.
Background of the Lawsuit
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Consensys filed a lawsuit against the SEC in April, accusing the regulatory body of overstepping its authority. The crypto company contends that the SEC is attempting to control the future of cryptocurrencies. The SEC’s lawsuit against Consensys centers on the allegation that Joe Lubin’s company is operating an unregistered broker-dealer business, specifically through MetaMask swaps, which the SEC claims violate securities law.
Consensys’ Ongoing Expansion
Despite the legal challenges, Consensys continues to grow. Recently, the company acquired the browser extension Wallet Guard to enhance the security of MetaMask, the world’s largest crypto wallet.
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Conclusion
The outcome of this lawsuit could have significant implications for the crypto industry. The established timetable provides a clear path forward for both parties to present their arguments.
