SEC and Binance Seek 60-Day Pause as Settlement Talks Advance
- SEC and Binance filed a joint motion to pause their lawsuit for another 60 days.
- The pause mirrors a similar legal strategy used in the Ripple case.
The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day pause in their ongoing legal case. The pause follows 60 days of “productive discussions” between the two parties.
According to court filings, the pause will give both sides more time to finalize a settlement. It also allows them to consider the policy implications of the SEC’s newly formed Crypto Task Force. The request mirrors a similar 60-day pause the SEC recently filed in its case against Ripple Labs. In both cases, parties are seeking to resolve disputes without using more court resources.
SEC Shifts Strategy Under New Leadership
The SEC sued Binance in June 2023 for operating an unregistered exchange, broker, and clearing agency. The agency also accused Binance of mishandling customer funds and manipulating trading volumes. These serious allegations sparked a long legal battle, which now seems closer to resolution.
The latest filing highlights the growing role of the SEC’s Crypto Task Force. Formed in February 2025, the task force aims to provide clear regulatory guidelines for digital assets. Discussions with Binance have focused on how the task force’s findings could shape the case’s outcome.
Under new Chair Paul Atkins, the SEC has shown a willingness to resolve high-profile crypto lawsuits. Atkins, confirmed by the Senate under the Trump administration, supports pro-crypto regulation. His leadership follows Acting Chair Mark Uyeda, who first requested a 60-day pause in the Binance case earlier this year.
Binance has faced several legal setbacks over the past year. In November 2023, founder Changpeng Zhao (CZ) pleaded guilty to DOJ charges and stepped down as CEO. The exchange agreed to pay over $4 billion in fines. CZ was later convicted in April 2024 and released from prison in September.
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SEC and Binance Seek 60-Day Pause as Settlement Talks Advance
- SEC and Binance filed a joint motion to pause their lawsuit for another 60 days.
- The pause mirrors a similar legal strategy used in the Ripple case.
The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day pause in their ongoing legal case. The pause follows 60 days of “productive discussions” between the two parties.
According to court filings, the pause will give both sides more time to finalize a settlement. It also allows them to consider the policy implications of the SEC’s newly formed Crypto Task Force. The request mirrors a similar 60-day pause the SEC recently filed in its case against Ripple Labs. In both cases, parties are seeking to resolve disputes without using more court resources.
SEC Shifts Strategy Under New Leadership
The SEC sued Binance in June 2023 for operating an unregistered exchange, broker, and clearing agency. The agency also accused Binance of mishandling customer funds and manipulating trading volumes. These serious allegations sparked a long legal battle, which now seems closer to resolution.
The latest filing highlights the growing role of the SEC’s Crypto Task Force. Formed in February 2025, the task force aims to provide clear regulatory guidelines for digital assets. Discussions with Binance have focused on how the task force’s findings could shape the case’s outcome.
Under new Chair Paul Atkins, the SEC has shown a willingness to resolve high-profile crypto lawsuits. Atkins, confirmed by the Senate under the Trump administration, supports pro-crypto regulation. His leadership follows Acting Chair Mark Uyeda, who first requested a 60-day pause in the Binance case earlier this year.
Binance has faced several legal setbacks over the past year. In November 2023, founder Changpeng Zhao (CZ) pleaded guilty to DOJ charges and stepped down as CEO. The exchange agreed to pay over $4 billion in fines. CZ was later convicted in April 2024 and released from prison in September.
Highlighted Crypto News Today
XDC Network Spikes Over 17%, How Much Higher Can XDC Go?
Read More