Binance Lawsuit Paused as SEC Forms New Crypto Panel
A U.S. judge has temporarily suspended the SEC’s lawsuit against Binance for 60 days. Both sides agreed to the pause, saying a newly formed SEC task force could help shape future crypto regulations, which might impact the case.
The SEC first filed charges against Binance and its founder, Changpeng Zhao, in June 2023, accusing the exchange of inflating trading volumes, misusing customer funds, and misleading investors. However, with the U.S. government now reviewing crypto rules, the case is at a standstill for the time being.
A major part of the shift is the SEC’s new crypto task force, led by Commissioner Hester Peirce, who’s known for being more crypto-friendly. This task force was created to help set clearer…
