SEC and Binance Agree to Extend Case Pause Amid Crypto Regulation Talks

The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a federal judge to extend the pause on their ongoing legal battle by another 60 days, citing ongoing “productive discussions.” The case was initially filed by the SEC in 2023, alleging Binance, its U.S. affiliate Binance.US, and former CEO Changpeng Zhao violated federal securities laws by functioning as an unregistered broker, exchange, and clearing agency. The regulator also accused the platform of commingling customer funds and manipulating trading volumes on Binance.US.

In February, following U.S. President Donald Trump's return to office and the appointment of Mark Uyeda as acting SEC Chair, the regulator initiated a 60-day stay. The pause aimed to give room for a new crypto task force to develop clearer guidelines on how securities laws should apply to digital assets.

In a court filing on Friday, both parties confirmed ongoing discussions regarding the potential implications of the task force’s work on the SEC’s case. The filing stated that more time is needed for internal SEC procedures, including seeking authorization from commissioners for any potential resolution or shift in litigation scope.

Binance and the SEC agreed that continuing the pause serves judicial efficiency and is in the mutual interest of both sides. If granted, the additional 60-day extension would give the newly formed task force more time to influence the future of crypto regulation in the U.S., possibly affecting the course of the SEC’s enforcement actions in the space.

This case remains a closely watched legal battle that could significantly impact how U.S. regulators approach the crypto industry and major exchanges like Binance moving forward.