SEC and Binance Request Additional 60-Day Delay in Ongoing Case

The U.S. Securities and Exchange Commission (SEC) and the cryptocurrency exchange Binance have formally requested a federal court to extend the pause in their case for an additional 60 days.

According to the document, since the last pause, both parties have engaged in «productive discussions» regarding how the SEC’s efforts to regulate cryptocurrency will impact the Commission’s claims. At that time, the involved parties requested a two-month pause and committed to providing a joint report on the outcomes of their discussions.

Following the expiration of the stipulated period, the SEC proposed to the exchange to extend the pause by another 60 days to continue their dialogue and allow the Commission’s staff the necessary time to «approve any decisions or changes» related to this case. Binance agreed to this proposal.

As before, after two months, both parties will release a joint report.

In 2023, the SEC filed 13 charges against Binance and its founder, Changpeng Zhao, which included unregistered offerings and sales of BNB and BUSD tokens. The regulator is seeking to prohibit the exchange’s operations in the U.S., reclaim unlawfully obtained profits with interest, and impose financial penalties against the company and Zhao.

It is worth noting that in April, a Nigerian court postponed the proceedings against Binance concerning tax evasion.