Texas judge approves expedited schedule for SEC's case against Consensys
Quick Take A Texas judge approved an expedited schedule of legal proceedings in the SEC’s case against Consensys. A decision could come by the end of the year or early 2025.
A Texas judge has implemented the schedule for the U.S. Securities and Exchange Commission's case against blockchain software firm Consensys.
Legal proceedings are slated to occur between July 29 and November 26, suggesting that a decision for the SEC's case against Consensys could come by the end of the year or early 2025.
"Judge O'Connor granted our request that he consider the merits of our case on an expedited basis: whether the SEC has Congressional authority to regulate MetaMask as a securities broker and issuer," Consensys lawyer Bill Hughes wrote on the social media platform X. "Those questions would be considered alongside any arguments the SEC would make that we don't get to bring a case against them."
SEC sues Consensys
Last month, the SEC alleged that Consensys violated securities regulations through its MetaMask Staking and MetaMask Swaps services. The former permits the staking of ETH and MATIC and the latter lets users exchange different cryptocurrencies.
"The SEC’s complaint alleges that Consensys engages in the unregistered offer and sale of securities by participating in the distribution of the staking programs and operates as an unregistered broker with respect to these transactions," the SEC wrote in a June 28 release . By doing so, the agency continues, Consensys entered the U.S. securities market without providing investors federal securities law protection.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Surge in Stablecoin Minting: $USDT & $USDC on the Rise
Over $1.25B in $USDT & $USDC was minted in 11 hours, with Tron & Solana leading while Ethereum sees minimal activity.Tron & Solana Take the LeadEthereum’s Declining Role in Stablecoin Minting

Bitcoin’s Five-Week Decline: A Bullish Reversal Ahead?
Bitcoin hasn’t seen five red weeks in a row since the bear market. Could the trend shift bullish next week?Bitcoin’s Five-Week Decline: A Sign of Reversal?Historical Trends and Market SentimentIs a Rebound Coming?

Bitcoin’s Fibonacci Extension Points to $200K Target
Bitcoin’s Fibonacci extension signals a $200K target, with institutions heavily accumulating for the next major expansion phase.Bitcoin’s Price Is Mid-Channel, Not ToppingInstitutional Investors Are AccumulatingFibonacci’s Role in Bitcoin’s Cycles

Altcoin Market Prepares for the Next Big Move
Whales are clearing out leveraged positions, shaking weak hands, and setting the stage for a major altcoin rally.Shaking Out Weak HandsA New Altcoin Cycle Ahead?

Trending news
MoreCrypto prices
More








