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SEC and Binance agree to suspend case for another 60 days
The U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Binance have jointly requested a 60-day pause in their ongoing legal proceedings, citing progress in settlement negotiations.
In a joint filing with the U.S. District Court, both parties reported “constructive communications” and expressed optimism that the extended pause would allow them to finalize terms and secure necessary approvals, reports Cryptopolitan.
This development coincides with the recent formation of the SEC’s Crypto Task Force, a new unit aimed at establishing a consistent regulatory framework for digital assets. Legal observers believe that the task force’s mandate may influence the direction of high-profile cases like the SEC’s lawsuit against Binance.
SEC Task Force Could Shift Legal Landscape
The original complaint, filed in 2023, accused Binance of operating an unregistered exchange, broker, and clearing agency through its U.S. affiliate. It also alleged customer asset mismanagement and the manipulation of trading volumes. The ongoing negotiations suggest a potential change in the regulatory posture, particularly as the SEC’s task force works to harmonize crypto rules with existing securities law.
The SEC and Binance agreed that extending the current stay, which was set to expire on Monday, would serve judicial efficiency and potentially lead to a more coordinated resolution. If approved, the pause would continue for another 60 days.
Binance Still Faces Legal Challenges
Despite the potential progress, Binance remains under scrutiny. The firm’s founder, Changpeng “CZ” Zhao, resigned in November 2023 after pleading guilty in a Department of Justice case involving unlicensed money transmission and anti-money laundering violations. Binance agreed to pay more than $4 billion in penalties. CZ was sentenced to four months in prison in April 2024 and released later that year.
Though the exchange remains operational, it is now participating in regulatory efforts through the SEC’s task force. Established in February 2025, the group is tasked with providing regulatory clarity for digital assets—an effort seen as critical for resolving enforcement disputes and shaping the future of crypto policy in the U.S.
Recently we wrote, that at its second roundtable titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” acting SEC Chair Mark Uyeda proposed a temporary, conditional exemptive relief framework for digital asset trading.
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