Ramazan Eles 
The plot thickens in the ongoing legal battle between the SEC and crypto giant Binance. The regulatory agency recently requested a revision to its lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao. This move comes after a court ruling denied a similar dismissal request from another crypto exchange, Kraken.
The SEC’s change of heart seems to stem from a desire to avoid a definitive ruling on the classification of specific cryptocurrencies as securities. Ripple’s Chief Legal Officer, Stuart Alderoty, pointed out this shift, highlighting the SEC’s regret over using the term “crypto asset securities” in certain instances.
The proposed revision aims to remove this specific terminology from the lawsuit, suggesting a more cautious approach from the SEC. This has sparked debate within the crypto community. Some, like Coinbase’s CLO Paul Grewal, see it as an admission of missteps by the SEC, particularly regarding their past claims that certain tokens like SOL or ADA were securities.
Binance now has until October 11th to respond to the SEC’s request. Their decision, whether a consent or an objection, will be closely watched as it could impact the future of crypto regulations. The SEC’s revised approach, however, raises questions about its overall strategy for controlling the crypto market. Is enforcement still the preferred method, or could we see a shift towards clearer regulatory frameworks? Only time will tell.
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