SEC and Binance push for another pause in lawsuit after ‘productive’ talks

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,” the SEC and Binance said in an April 11 joint motion with the US District Court for the District of Columbia.SEC requests Binance to agree to the extensionAccording to the filing, the SEC requested that Binance agree to the extension for another 60 days as the regulator continues to seek permission to “approve any resolution or changes to the scope of this litigation.” 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: CourtListenerThe 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 purgeFormed just a day after Gensler resigned on Jan. 21, the task force 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 nearly two years, beginning 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 researchWeiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei CointelegraphWeiter zum vollständigen Artikel bei Cointelegraph Weiter zum vollständigen Artikel bei Cointelegraph