SEC and Binance push for another pause in lawsuit after 'productive' talks
12 Abril 2025 - 5:19AM
Cointelegraph
The US Securities and Exchange Commission (SEC) and crypto
exchange Binance have asked a US federal judge for an additional
two-month pause in their nearly two-year legal battle.
“Since the Court stayed this case, the Parties have been in
productive discussions, including discussions concerning how the
efforts of the crypto task force may impact the SEC’s claims,” both
parties said in an
April 11 joint status report with the US District Court for the
District of Columbia.
SEC requests Binance to agree to the extension
According to the filing, the SEC requested and Binance agreed to
another 60-day extension as the regulator continues to seek
permission to “approve any resolution or changes to the scope of
this litigation.”
“The Defendants agreed that continuing the stay is appropriate
and in the interest of judicial economy,” the filing said.
The request comes not long after the SEC dropped a string of
crypto-related lawsuits against crypto exchanges Coinbase, Kraken,
and Gemini, as well
as Robinhood and Consenys.
At the end of the 60-day period, the SEC and Binance plan to
submit another joint status report. This
marks the second 60-day pause the SEC and Binance have
requested this year, following a previous extension granted by the
judge on Feb. 11.
The recently launched crypto task force was a key reason
behind the request for the second extension. Source:
CourtListener
The request in February came just days after
crypto skeptic Gary Gensler stepped down as SEC chair on Jan.
20, with crypto-friendly
SEC commissioner Mark Uyeda taking over as acting chair.
At the time, the SEC and Binance also cited the
establishment of
the SEC’s Crypto Task Force as a reason for the pause.
Related:
Crypto Biz: Ripple’s ‘defining moment,’ Binance’s
ongoing purge
Formed just a day after Gensler resigned
on Jan. 21, the task force said it aims to “help the Commission
draw clear regulatory lines, provide realistic paths to
registration, craft sensible disclosure frameworks, and deploy
enforcement resources judiciously.”
The SEC’s legal battle with Binance has dragged on
for almost two years. It began in June 2023 when the agency
filed a lawsuit against Binance, its US platform, and CEO Changpeng
“CZ” Zhao.
The US regulator pressed 13 charges against Binance, including
unregistered offers and sales of the BNB and Binance USD tokens,
the Simple Earn and BNB Vault products, and its staking
program.
Magazine: Memecoin degeneracy is funding groundbreaking
anti-aging research
...
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pause in lawsuit after 'productive' talks
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