SEC and Binance Request Another 60-Day Pause Amid Settlement Talks

In Brief:

SEC and Binance file joint motion to extend lawsuit pause by 60 days.

Both parties report “productive discussions” toward a possible settlement.

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The U.S. Securities and Exchange Commission (SEC) and Binance have jointly filed a motion to pause their ongoing lawsuit for an additional 60 days, citing continued progress in reaching a settlement. This follows a similar pause granted in February.

In the filing, the SEC and Binance, along with founder Changpeng Zhao, stated that they “have been in productive discussions” and need more time to consider policy implications and finalize an agreement.

This move closely mirrors the SEC’s approach in its case against Ripple, where both parties recently requested a similar 60-day suspension to resolve remaining issues without further court intervention.

The lawsuit, initially filed in June 2023, accused Binance of violating U.S. securities laws and misleading regulators. The legal battle disrupted the exchange’s U.S. operations and contributed to broader regulatory pressure on the crypto industry.

With a new SEC Chairman, Paul Atkins, taking a more collaborative stance toward crypto, high-profile enforcement actions are being reassessed. The SEC has recently moved to resolve cases involving Ripple, Coinbase, and Kraken, signaling a wider policy shift.

Today’s filing suggests that a potential resolution may be within reach, but both sides are requesting more time to avoid premature litigation steps.

If approved, the new pause would keep the case on hold through mid-June, potentially allowing Binance to settle its regulatory battle without further courtroom drama.

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