Emre Yumlu 
SEC and Binance stated that they have had “productive discussions” in their nearly two-year-long legal battle.
The U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Binance have requested a U.S. federal judge for an additional two-month delay in their nearly two-year legal fight.
“Since the Court stayed this case, the Parties have been in productive discussions, including discussions concerning how the efforts of the crypto task force may impact the SEC’s claims,” both parties said in an April 11 joint status report.
SEC Requests Binance to Agree to the Delay
According to the filing, SEC requested Binance to accept this delay request, and Binance agreed to the additional 60-day delay. The regulator continues to seek permission to “approve any resolution or changes to the scope of this litigation.”
“The Defendants agreed that continuing the stay is appropriate and in the interest of judicial economy,” the filing stated.
This request came shortly after SEC dropped a series of lawsuits against cryptocurrency exchanges Coinbase, Kraken, and Gemini, as well as against Robinhood and Consenys.
At the end of the 60-day period, SEC and Binance plan to submit another joint status report. This marks the second 60-day pause SEC and Binance have requested this year, following a previous extension granted by the judge on February 11.
The February request came just days after crypto-skeptic Gary Gensler stepped down as SEC chairman on January 20, with crypto-friendly SEC commissioner Mark Uyeda taking over as acting chair.
At the time, SEC and Binance also cited the establishment of SEC’s Crypto Task Force as a reason for the pause.
Formed immediately after Gensler resigned on January 21, the task force said its goal is to “help the Commission draw clear regulatory lines, provide realistic paths to registration, craft sensible disclosure frameworks, and deploy enforcement resources judiciously.”
The legal battle between SEC and Binance has dragged on for almost two years. It began in June 2023 when the agency filed a lawsuit against Binance, its U.S. platform, and CEO Changpeng “CZ” Zhao.
The U.S. regulator pressed 13 charges against Binance, including unregistered offers and sales of the BNB and Binance USD tokens, the Simple Earn and BNB Vault products, and its staking program.
Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram ,YouTube and Twitter channels for the latest news and updates.