David Edwards
The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a second 60-day pause in their ongoing legal proceedings, highlighting what they termed “productive discussions” and citing the evolving impact of the SEC’s newly formed Crypto Task Force.
In a joint status report filed on April 11 with the U.S. District Court for the District of Columbia, both parties noted that continued negotiations could influence the scope and potential resolution of the litigation. “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,” the filing stated.
The SEC initiated the extension request, which Binance supported, in the interest of judicial efficiency. “The Defendants agreed that continuing the stay is appropriate and in the interest of judicial economy,” the filing emphasized.
This marks the second such request for a litigation pause this year, with the first granted in February 2025. The current extension proposal follows recent SEC decisions to drop several high-profile crypto lawsuits involving Coinbase, Kraken, Gemini, Robinhood, and ConsenSys—moves interpreted as a possible shift in regulatory strategy.
Central to this shift is the SEC’s newly established Crypto Task Force, formed on January 21, one day after the resignation of former SEC Chair Gary Gensler. Acting Chair Mark Uyeda, known for his more crypto-friendly stance, has supported the task force’s mission to clarify digital asset regulations, develop practical registration frameworks, and streamline enforcement.
The SEC’s legal pursuit of Binance began in June 2023, targeting the exchange, its U.S. affiliate, and CEO Changpeng “CZ” Zhao. The case involves 13 charges, including allegations of unregistered offerings of BNB and Binance USD tokens, as well as unauthorized investment products such as Simple Earn, BNB Vault, and the exchange’s staking services.
