The lawyers of the American Commission for Securities and Exchange and Binance asked a federal judge on Friday to continue a break in the regulator’s file for the exchange of crypto for two additional months, citing “productive discussions”.
The SEC continued the binance in 2023, alleging that the exchange – alongside its American affiliate and leaders such as the former CEO Changpeng Zhao – violated the federal securities laws by operating as a license without license, broker and exchange. The SEC also alleged that the Binance.us trading volume has been manipulated. In February, after US President Donald Trump resumed the office and appointed Commissioner Mark Uyeda as president of the acting agency, the regulator asked for a 60 -day break in the case, which was to expire on Monday. The SEC has underlined a newly created crypto working group aimed at writing clearer advice on how securities law could apply to digital assets as part of its explanation for the requested break.
In Friday’s file, the lawyers involved said that discussions included “how the efforts of the crypto working group could have an impact on dry complaints” and asked for an additional 60 -day break.
“In the light of these continuous discussions and the time required for the staff to request the authorization of the Commission, as necessary to approve any resolution or modification of the scope of this dispute, the SEC has asked that the defendants agree to continue the current suspension of an additional 60 days, and the defendants have agreed that the continuation of the stay is appropriate and in the interest of the judicial economy,” said the file.
