Court Grants 60-Day Pause in Binance, SEC Dispute

An American district judge has granted a 60-day break in the constant legal struggle between Global Crypto Exchange Binance and the US Securities and Exchange Commission, giving both parties the time to assess new legal developments.

Judge Amy Berman Jackson of the COLUBBIA court ruled On Thursday, both parties would benefit from a temporary stay, which will last until April 14, 2025, at which point they should submit a joint status report.

The joint request for a delay was submitted on Monday, with both Binance and the SEC quoting the establishment of a new SEC Crypto Task Force As the main reason, because they believe that this shift “can influence and facilitate the solution of the matter.”

Led by SEC Commissioner Hester Peirce, the Task Force is aimed at drawing up clearer regulatory guidelines for the Cryptomarkt, which is under the former chairman of the former chairman Gary Gensler.

The 60-day stay Binance and the SEC give a break of immediate legal proceedings, including motions such as Binance’s request to reject the amended complaint from the SEC.

The attitude of the SEC, traditionally aggressive among Gensler, has been widely criticized due to the lack of clear guidelines, so that many are left in the darkpto industry in the dark for many years.

With Peirce at the helm of the Task Force, however, there is hope of crypto experts, the regulating environment will become more transparent and more favorable.

Binance is under the investigation of the SEC Since 2023 Due to the alleged violations of the American laws of securities, and the break comes after years of being confronted with probes of several regulatory authorities.

This includes one $ 4.3 billion settlement with the US Department of Justice and a $ 2.7 billion settlement With the Commodity Futures Trading Commission on money laundering and the punishment of compliance with.

Binance -founder Changpeng Zhao also resigned as CEO under the conditions of the settlement and was also condemned Up to four months in prison.

Coinbasewho was confronted with SEC -Affairs for violations of SEC in June 2023 break his lawsuit pending a decision of a court of appeal.

Ripple A signal could also take from Binance and follow a wait -and -see approach in the hope of gaining a more favorable regulatory result.

Published by Sebastian Sinclair