BlockchainTimetable Set for Consensys Lawsuit Against SEC

Timetable Set for Consensys Lawsuit Against SEC

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

Also Read: Mike Novogratz’s Top Tip for Learning About Crypto Investing

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.

Also Read: Bitcoin Price Drops Below $60K Amid Rapid Whale Sell-Off

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.

Jason Norton
Jason Norton
Jason Norton is a seasoned journalist at NewsAlarms, specializing in fintech, finance, and startup news. With a passion for uncovering the latest trends and innovations in these dynamic fields, he brings insightful perspectives to our readers

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