According to Odaily, a Texas judge has approved a request by Consensys' lawyers in their lawsuit against the U.S. Securities and Exchange Commission (SEC). The request is to expedite the decision on whether the SEC has the authority to regulate MetaMask. The ruling is expected to be made by the end of 2024 or the beginning of 2025.
The information was disclosed by Fox Business reporter Eleanor Terrett. The case is significant as it could set a precedent for the regulation of other blockchain-based applications. The outcome of the lawsuit could have far-reaching implications for the cryptocurrency industry, potentially affecting the way blockchain applications are regulated in the future.
The lawsuit was filed by Consensys, a blockchain software technology company, against the SEC. The company's lawyers have requested an expedited decision on whether the SEC has the authority to regulate MetaMask, a software cryptocurrency wallet used to interact with the Ethereum blockchain.
The judge's decision to approve the request indicates that the court recognizes the urgency of the matter. The ruling, expected by the end of 2024 or early 2025, will provide clarity on the regulatory status of MetaMask and potentially other blockchain applications.