Consensys attorneys have secured approval from Reed O'Connor, a federal judge at the United States District Court for the Northern District of Texas, to hasten a ruling on whether the U.S. Securities and Exchange Commission can oversee the self-custodial MetaMask wallet as a broker-dealer.

Attorney Bill Hughes, representing Consensys, has indicated that the court's decision is expected shortly before the holiday season. The deadline for submitting opening briefs on dispositive motions is before September 20.

Consensys, guided by Ethereum co-founder Joe Lubin, initiated legal action against the SEC in April to contest the agency’s move to increase its authority over digital assets by categorizing the main alternative cryptocurrency as a security. This action followed the SEC's threats of enforcement measures against the MetaMask developer for alleged breaches of securities regulations. Consensys countered with requests for injunctive and declaratory relief.

Although the SEC terminated its investigation of Ethereum 2.0, concluding that the cryptocurrency's sales did not constitute securities transactions, the agency proceeded to litigate against Consensys during the same period, claiming that the Metamask developer had not registered as a broker-dealer.