New SEC leadership under Trump is changing the crypto game by letting go of all the crypto cases of past leadership. In one such move, the ongoing legal battle between the U.S. SEC and Binance has been officially paused for another 60 days. This move comes after what both sides have described as “productive discussions,” with the focus now shifting to how the SEC’s newly established crypto task force could impact the outcome of the case and the broader digital asset industry.
A Long-Running Legal Dispute
In an X post, Fox Journalist Eleanor Terrett shared that the SEC and Binance have jointly requested another 60-day pause. Both parties believe the pause serves everyone’s best interest, with the next update expected after the 60 days.
The SEC filed a lawsuit against Binance in 2023, accusing the crypto exchange and its then-CEO, Changpeng Zhao (CZ), of operating as an unregistered clearing agency, broker, and exchange. Additional allegations included fund commingling and manipulation of trading volumes on Binance US. Since then, the case has seen several pauses to allow time for negotiation and regulatory discussions.
Earlier this year, the SEC requested a 60-day pause to give room for conversations related to the crypto task force’s impact on how digital assets should be regulated under securities law. That pause was supposed to end on April 14, 2025, but both parties have now asked the court to extend it through mid-June.
Focus Shifts to Crypto Task Force
The SEC’s crypto task force is expected to play a key role in shaping future regulations for the industry. According to the SEC’s latest filing, discussions with Binance have revolved around how the task force’s findings may affect the case. There’s a growing hope that the task force could provide clearer guidelines on applying existing securities laws to crypto transactions.
Acting SEC Chair Mark Uyeda has emphasized that the task force aims to strike a balance between fostering blockchain innovation and maintaining investor protection. He also hinted at the possibility of introducing conditional exemptions to support industry growth while still enforcing compliance.
What the Pause Means for Binance and the Industry
However, this extended pause will be beneficial for Binance to look for possible settlement options and be in line with regulations. It also indicates that both the SEC and Binance are looking to resolve the matter efficiently without rushing into court battles. Binance has acknowledged that the continued pause is in everyone’s best interest.
While the pause may not be the end, it certainly sets the stage for major regulatory developments in the months ahead.
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