Exchange Binance and the U.S. Securities and Exchange Commission (SEC) jointly asked the court to stay their case for 60 days.
According to the statement, the request for a break is related to the creation of the SEC Cryptocurrency Regulation Task Force, which was created on January 21, 2025, under Mark Wye, who was appointed by Donald Trump to serve as acting head of the agency after Gary Gensler left.
The work of this working group may influence and facilitate the potential resolution of this case. Accordingly, the SEC has proposed that the defendants stay the case for a short period of time, and the defendants agree that this is appropriate, the joint filing states.
It is known that after the 60-day break ends, the parties will submit a joint report on how they will proceed further.
The SEC filed a lawsuit against Binance in June 2023, accusing the exchange of operating unregistered trading venues and broker-dealers. In June 2024, a federal judge partially dismissed the charges related to the programs. Binance BUSD, Simple Earn and BNB secondary sales, but still left most of the SEC’s claims in place.