News - Timetable for Consensys lawsuit against SEC set

By Luc Vesters

Timetable for Consensys lawsuit against SEC set

There have been developments in the lawsuit between the SEC and Consensys. The judge in charge, Reed O'Connor, has now set a timetable for the parties to submit their written submissions.

Under this schedule, Consensys must file its opening statement by September 20, 2024. The other party, the Securities and Exchange Commission, must respond by Nov. 1 of the same year. Attorney Bill Hughes expects a court ruling around Christmas.

Consensys sued the SEC in April of this year. The software company accused the regulator of overstepping its authority. The crypto company argues that the SEC "wants to take control of the future of cryptocurrencies to itself."

The reason for the case is an SEC indictment of Consensys. The regulator is accusing Joe Lubin's company of running a so-called Broker-Dealer business. At issue is the MetaMask Swaps. According to the SEC, these violate securities laws.

Despite several lawsuits, Consensys is not giving up and continues to expand. This morning we received news that Consensys has acquired the browser extension Wallet Guard. This should make the world's largest crypto wallet, MetaMask, even more secure.

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