- FOX Business journalist Eleanor Terrett believes it may open the door for different firms going through SEC lawsuits
- The SEC sued Binance and its former CEO, Changpeng Zhao, in 2023 for violating securities legal guidelines within the US
Binance and the US Securities and Trade Fee (SEC) have filed a joint movement pausing their authorized case for 60 days.
In keeping with the doc, the brand new SEC crypto taskforce – created by performing SEC chair Mark Uyeda – could have had a attainable influence on the case.
The movement, submitted to the US District Court docket for the District of Columbia on February 10, reads: “The work of this task force may impact and facilitate the potential resolution of this case.”
In keeping with FOX Business journalist Eleanor Terrett, this might open the door for different firms going through SEC lawsuits.
In a publish on X, Terrett stated: “I expect we’ll see other non-fraud cases (i.e. @Ripple, @coinbase, @krakenfx and others) follow suit in this manner.”
🚨NEW: Right here’s the primary requested pause on #crypto litigation within the courts since @MarkUyedaUS took over as performing chair. @binance and the @SECGov have simply filed a joint movement to remain the company’s case towards the trade for 60 days, citing the brand new SEC crypto activity pressure as… pic.twitter.com/D2zcolMNC5
— Eleanor Terrett (@EleanorTerrett) February 11, 2025
SEC lawsuits
In June 2023, the SEC sued Binance and its former CEO, Changpeng Zhao, for violating securities guidelines within the US.
In keeping with a report, the company argued that Binance secretly enabled high-value US clients to commerce on the platform as an unregistered securities trade and broker-dealer.
Coinbase, which is combating the SEC, was granted an interlocutory attraction in January, quickly suspending its ongoing courtroom case. In keeping with the SEC, Coinbase amounted “to the operation of an unregistered brokerage, exchange, and clearing agency in violation of federal securities laws.”
Ripple and its long-running case with the SEC stems from its XRP token. In 2020, the SEC sued Ripple, Chris Larsen, and Garlinghouse, alleging that they raised $1.3 billion by the sale of XRP, an unregistered securities providing, in accordance with the regulator.
