SEC and Binance Seek 60-Day Pause Amid Productive Settlement Talks
In a significant development, the SEC and Binance jointly requested a 60-day pause in their legal dispute, highlighting constructive talks and regulatory evolution.
The U.S. Securities and Exchange Commission (SEC) and global crypto exchange Binance have jointly filed a request to the U.S. District Court to extend the current stay in their ongoing legal case. The pause, initially scheduled to expire on Monday, would be prolonged by another 60 days, citing “productive discussions” and the evolving role of the SEC’s newly formed Crypto Task Force.
The joint filing emphasizes “constructive communications” between the parties and a mutual interest in resolving the dispute amicably. “This additional time would facilitate negotiations and the necessary internal approvals,” the lawyers noted.
This move is not merely procedural but strategic, tied closely to the commission’s broader push to harmonize securities laws in the fast-evolving crypto sector.
Background of the Case
The SEC originally sued Binance in 2023, accusing the platform and its former CEO Changpeng Zhao (CZ) of operating an unregistered clearing agency, broker, and exchange via its U.S. arm. Allegations also included the misuse of customer assets and manipulation of trading volume on the Binance.US platform.
In November 2023, CZ resigned from his CEO role and later pleaded guilty before the Department of Justice (DOJ) for money laundering and operating a money-transmitting business without a license. Binance agreed to a historic $4 billion settlement in that case. CZ was convicted in April 2024 and served a four-month sentence, being released in September 2024.
The Role of the Crypto Task Force
Formed in February 2025, the SEC Crypto Task Force was tasked with establishing clearer regulatory frameworks for digital assets. This development came shortly after President Donald Trump returned to office and appointed Commissioner Mark Uyeda as Acting SEC Chair, signaling a potential shift in regulatory strategy.
“The task force’s work has contributed meaningfully to the ongoing dialogue between the SEC and Binance,” the court document stated.
The current pause in the case is directly connected to this initiative, as both parties have acknowledged the impact of the task force on settlement progress.
Implications for the Crypto Industry
This development may signal a more collaborative approach to crypto regulation in the United States. While Binance continues to face scrutiny, the tone has shifted from confrontation to negotiation. Both sides assert that extending the pause is in the interest of judicial efficiency and could lead to an eventual resolution.
While it remains uncertain whether a full settlement is on the horizon, this 60-day pause underscores a growing willingness from both regulators and industry players to find common ground.
