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 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.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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