Ethereum 2.0

Northern

A U.S judge has granted a request by software firm Consensys that sought an expedited schedule in the company’s lawsuit against the U.S. Securities and Exchange Commission (SEC). 
Judge Reed O’Connor, in a filing on July 1, approved a timeline in which the court will now consider the merits of Consensys’ case against the regulator. Bill Hughes, senior counsel for Consensys, <a href="https://x.com/BillHughesDC/status/1808141882762891747" target="_blank" rel="">shared</a> some details of the judge’s ruling via X on July 2. 
“Important News about Consensys v. Gensler.&nbsp; Judge O’Connor granted our request that he consider the merits of our case on an expedited basis:&nbsp; whether the SEC has Congressional authority to regulate MetaMask as a securities broker and issuer,” Hughes said. 
<h2 class="wp-block-heading" id="when-is-the-verdict-likely">When is the verdict likely?</h2> 
According to Hughes, the above issues are now set for consideration alongside any arguments from the SEC that Consensys’ case against the agency should not be allowed. 
Per a timeline of the expected proceedings, the SEC has until July 29 to file its response. Meanwhile, September 20, 2024 is the deadline for filing opening briefs on the dispositive motions.&nbsp; should be filed latest by September 
In the filing at the U.S. District Court for the Northern District of Texas, Judge O’Connor also ordered that any amicus briefs be filed on or before October 4 and opposition briefs not later than November 1, 2024. 
Hughes believes a ruling on the case could come in December, with this looking likely to come around Christmas. 
<h2 class="wp-block-heading" id="consensys-vs-sec-lawsuit-and-counter-lawsuit">Consensys vs. SEC – lawsuit and counter lawsuit</h2> 
Judge O’Connor’s verdict comes a few days after SEC sued Consensys over its MetaMask platform and the staking services related offerings. 
Remember that Consensys had already <a href="https://crypto.news/consensys-sues-sec-over-ethereum-crackdown/">filed a lawsuit against the SEC</a> in April. In the lawsuit, the company asked for a ruling that Ethereum is not a security and that MetaMask is not a broker dealer. 
Consensys announced that the regulator had <a href="https://crypto.news/ethereum-secures-major-win-as-sec-drops-investigation/">dropped</a> its investigation into Ethereum 2.0 in June, only for the SEC to <a href="https://crypto.news/lido-and-rocket-pool-tokens-tank-after-sec-sues-consensys/">file its own lawsuit</a> accusing Consensys of securities violations. Specifically, the SEC claims MetaMask is an unregistered broker and is offering unregistered securities.

US judge approves expedited schedule for Consensys suit against SEC

Inhoudsopgave

crypto.news

Andere artikelen gepubliceerd op 2 jul 2024

Solana's Answer To Dogecoin Outpeforms Broader Market With A 13% Spike: What's Up With Bonk?

Trump the Felon Memecoin Skyrockets 5,100% and Will Explode 18,000% Ahead of KuCoin Listing, As S...

Forget Bitcoin, here’s why altcoins are your best bet this week

Solana Meme Coin 'Sealana' to Launch Today on Exchanges After Successful Presale

Top Crypto Trader Thinks Bitcoin Has 'Uncapped Upside,' Reveals Price Where He Would 'Max Allocate'

Ethereum DApp volume surges by 83%, but there could be a catch

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!