A lawsuit against Binance officially suspended – Tradingview News

A federal judge ordered yesterday (Thursday) to comment on a lawsuit in the Securities and Stock Exchange Committee (SEC) against the 60 -day encryption giant. The request follows a joint request from both parties.

Dependence on the encryption workplace

In their joint movement earlier this week, the two parties highlighted that the newly formed work squad to review the encryption regulations may “affect this situation and facilitate its potential solution.”

The regulator formed the encryption squad last month, led by Republican Commissioner Hyster Peres, a strong supporter of encrypted currencies. It is also one of the first movements conducted by the agency under the temporary leadership of Mark Uida, who replaced Gary Ginsler as a prosecutor.

President Donald Trump has already nominated Paul Atkins, Washington’s lawyer and former commissioner at the agency, as a permanent alternative to Ginsler. However, his appointment is awaiting the approval of the Senate. Unlike Gensler, which has opened many prominent issues against encryption companies, Atkins is seen as a friend of encryption.

SEC move against the encryption giant

SEC filed a lawsuit against Binance and its founder, Changpeng Zhao, in mid -2013, claiming that the exchange artificially amplified trading sizes, misuse of customer money, and misleading investors on monitoring controls.

“The SEC case has always been without an advantage, and we are keen to put this behind us and we continue to focus on maintaining the safest, licensing and reliable borran in the world,” said a Binance spokesman earlier.

In separate cases submitted by the Ministry of Justice and the CFTC Futures Trading Committee, the encryption exchange paid a total of more than $ 7.1 billion in settlements and agreed to leave the United States. Zhao had also had to step down as Binance CEO and spent four months in prison.

Meanwhile, in light of the new leadership, SEC is said to reduce the optional enforcement section, which includes more than 50 lawyers.