SEC and Binance pauses a legal battle in the middle of new prescribed working groups crypto

American Secle and Exchange Commission (SEC) and Stage jointly requested 60-day suspension of their permanent litigation, according to 10. February submission.

Both sides are explained that this decision was made because the sex has established a dedicated crypto group of working group under the children’s chair Mark Uieda. According to the submission, the work of the working group may affect the resolution of the case.

Given this, the financial regulator proposed a temporary break, and binance agreed, referring to judicial efficiency as a key factor. Once the suspension is over, both parties will submit a joint status report to determine whether the extension is needed.

The following submission:

“As this common movement, there is no prejudice for any party, and the stay could save the resources of the parties, because there could be an early resolution, it could be achieved, it would obviate the need to continue the disclosure.”

This means interesting development in the lawsuit initially submitted in 2023. years. At the time, the financial regulator accused the bining of American securities laws by offering more tokens, including Solana, Cardanoand Algorand. The Sex claims that these funds meet the criteria for testing Hoveke for securities.

In July 2024. year, the agency tried Alter his appealBut the stage answered with movement to reject and amendment and the whole case.

SEC CRIPTO PRILJ

This development reflects the broader shift in the SEC approach to the crypto regulation under the participable leadership.

The new leadership has introduced a ‘CRIPTO WORKING GROUP“And he launched a dedicated website that distorts the evolution of the Agency’s regulatory attitude on digital property.

Commissioner Hester PeirceA longtime advocate for explicit regulations with the crypt, leads working groups. He repeatedly criticized the previous Tactics of SEC, claiming that the opaque guidelines of stifured innovation and coercion of the CRIPTO firm are moving unsafe legal fields.

Adding these changes, SEC, allegedly descends the specialized unit of over 50 lawyers and staff members, previously focused on that CRIPTO EVERZATION. This restructuring further enhances the notion that the Agency reconsidered its position on digital property.

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