Sec and binance push for another pause in the lawsuit after ‘productive’ communication
The US Securities and Exchange Commission (SEC) and Crypto Exchange Binance asked a US federal judge for an additional two-month pause in their nearly two-year legal battle.
“Since the court remained in this case, the parties were in productive discussions, including discussions about how Crypto Task Force’s efforts could affect the SEC claims,” the SEC and Binance Says In a combined movement of April 11 with the US district court for the Columbia district.
The SEC asked Binance to go to the extension
According to the filing, the SEC demanded that Binance be in the extension for another 60 days while the regulator continued to seek permission to “approve any resolution or change in the scope of this trial.”
The request did not last long after the SEC dropped a string of crypto -related suits against crypto exchanges Coinbase, Kraken, and Gemini, as well as As Robinhood and Consenys.
At the end of the 60-day period, the SEC and Binance plan to submit another joint status report. This marked a second 60-day pause The SEC and Binance requested this year, following a previous extension issued by the judge in February. 11.
The recently launched Crypto Task Force is a major reason behind the request for the second extension. Source: Courtlistener
Request in February came days after Crypto hesitates Gary Gensler Dropped as SEC Chair on January 20, with crypto-friendly SEC Commissioner Mark Uyeda Taken as acting chair.
At this time the SEC and Binance also mentioned the Establishment of SEC’s Crypto Task Force As a reason for pause.
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Formed one day after Gensler resigned on January 21The Task Force aims to “help the commission draw clear lines of regulations, provide realistic registration paths, stunning disclosure frameworks, and deploy implementation resources fairly.”
SEC’s legal battle with Binance has been withdrawing for almost two years.
The US regulator pressed 13 charges against Binance, including unregistered offers and sale of BNB and Binance USD tokens, simple earnings and BNB vault products, and its staking program.
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