New Business
Binance, US regulator seek pause in legal battle as Trump draws up crypto policy
Binance and the US Securities and Exchange Commission (SEC) asked a federal judge to stay the regulator’s lawsuit against the cryptocurrency exchange, according to a court filing, citing the potential impact of a newly launched task force.
The motion to request a stay for 60 days marks the first clear effort to retreat from the SEC’s previous crypto enforcement under Democratic leadership.
In a joint motion filed late Monday, the parties said the SEC’s task force, formed last month to work on crypto regulations, may “impact and facilitate the potential resolution of this case”.
The stay was seen by some as an early sign of the SEC’s pivot to a more crypto-friendly stance, reflecting President Donald Trump’s pledge to make the US a global hub for the industry.
Reuters previously reported that the SEC, under Republican leadership, was expected to begin a review of existing court cases like those against Binance, where the regulator had argued the firms were listing crypto tokens that behave like securities.
A representative for the agency declined to comment beyond the court filing.
Source link
