The United States Securities Commission (SEC) requested the temporary suspension of the process against the cryptocurrency Exchange Binanceciting the pending development of a regulatory framework for digital assets under the Trump administration.
The main US securities regulator, Binance and its co-founder Changpeng Zhao, jointly presented a petition to the District Court of Columbia on Monday (11), asking for a 60-day break in the case. The request occurs after the creation of a cryptocurrency task force by the interim president of SEC Mark Uyeda last month.
“The work of this task force can impact and facilitate the possible resolution of this case,” the document said. “Thus, SEC proposed a brief suspension to the defendants, who agreed that the measure is appropriate and meets the interest of the judicial economy.”
SEC was one of several regulatory agencies that took legal action against Binance and Zhao in 2023, accusing the company of allowing US users to negotiate on its international platform. Many of these authorities, including the US Department of Justice and the Commodity Future Trading Commission (CFTC), opted for an agreement late last year, with Binance and Zhao agreing to pay about $ 4.3 billion in fines .
“The case of SEC has always been unfounded, and we are looking forward to leaving it behind and remaining focused on maintaining Binance as the safest, licensed and reliable exchange in the world,” a Binance spokesman said in a statement.
At the end of the 60 -day suspension period, SEC and Binance should present a set of status report, including if a break from the process will be required, according to the document.
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