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The Coin Rise 2025-04-13 16:15:34

Is Crypto Clash on Hold? SEC and Binance Seek Fresh Delay in Lawsuit

Is Crypto Clash on Hold? SEC and Binance Seek Fresh Delay in Lawsuit

U.S. Securities and Exchange Commission (SEC) and crypto exchange giant Binance have filed a motion seeking a 60-day hold on their ongoing lawsuit. The motion was jointly filed before a federal judge in the District of Columbia and requested a pause to continue discussions. SEC and Binance Discussions Gain Momentum Post-Gensler Exit As per the filing , the SEC and Binance have made significant progress in their talks since the court halted proceedings. Some of the discussion between the SEC and the exchange centers on how the efforts of the crypto task force could impact the regulatory body’s claims. The duo anticipates their ongoing conversations might lead to an amicable lawsuit resolution. Interestingly, the SEC initiated the request and agreed upon it with Binance. The crypto exchange considers this route to become more efficient in resolving issues. This is the second time that both parties are seeking an extension. The first request for a stay of proceedings was granted in February 2025, just after ex-Chair Gary Gensler left office. Following Gensler’s resignation, the SEC has been responsible for the SEC. Many in the crypto space consider him to have a more favorable disposition towards digital assets. The SEC’s Crypto Task Force’s objectives include clarifying regulatory guidance and properly managing the allocation of enforcement resources. 13 Charges Looms Over Binance The legal battle between the SEC and Binance commenced in 2023, with 13 charges filed against the exchange. The regulatory body has alleged that Binance engaged in unregistered sales of its BNB and USD tokens. Other allegations against Binance involve the operation of products such as the Simple Earn and BNB Vault, a staking program. The crypto exchange and Changpeng Zhao , its former CEO, have vehemently denied all the allegations. Is the SEC Adopting a Softer Approach to Regulation? It is unclear if both parties would find a resolution outside the courtroom. However, it is noteworthy to highlight that the SEC has withdrawn some lawsuits that border on enforcement actions. For instance, the SEC withdrew its case against Coinbase, Gemini, Kraken, and Robinhood. These withdrawals suggest that the regulatory body is shifting toward crypto assets, possibly due to new leadership. The post Is Crypto Clash on Hold? SEC and Binance Seek Fresh Delay in Lawsuit appeared first on TheCoinrise.com .

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