SEC and Binance Request Extended Pause in Lawsuit Amid Ongoing Settlement Talks
In a joint filing submitted on Friday, attorneys for the SEC and Binance requested that the case remain on hold as negotiations continue. The SEC stated the extension is needed:
In light of these continued discussions and the time required for the staff to seek authorization from the [SEC] as necessary to approve any resolution or changes to the scope of this litigation.
Binances legal team agreed with the proposal, saying that maintaining the pause is appropriate and in the interest of judicial economy.
Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia had originally granted a stay in February after a similar joint motion. If the new request is approved, the next joint status update would be due in mid-June.
Background and Case Status
The case has seen mixed developments. Last year, Judge Jackson partially dismissed some of the SECs claims against Binance, but the majority of the charges remain intact. These include allegations of unregistered securities offerings and violations related to Binances U.S. operations.
What remains uncertain is how ongoing changes in the SECs leadership could influence the cases directionparticularly as current enforcement strategies are under scrutiny and evolving under new crypto-focused leadership.
Whats Next?
While no final resolution has been reached, the continued pause suggests both sides are moving closer to a possible settlement or narrowed legal scope. Industry watchers remain on alert for further updates in what could become one of the most consequential regulatory cases in crypto history.
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Text source: Coindoo
