- SEC delays Coinbase case response, citing Crypto Task Force’s regulatory influence.
- Binance case paused as SEC reassesses enforcement strategy across crypto industry.
- Leadership shift at SEC may bring clearer digital asset regulations under Mark Uyeda.
The U.S. Securities and Exchange Commission (SEC) has asked for another 28 days to reply to Coinbase’s request for a special appeal, pushing the new deadline to March 14, 2025.
The SEC mentioned its recently created Crypto Task Force as something that could change how the case plays out. This delay might mean the agency is changing its regulatory game plan, possibly rethinking how it deals with cryptocurrency rules.
Related: SEC Faces Coinbase Appeal Deadline as Trump Eyes New CFTC Chair
Coinbase Gets Appeal, SEC Needs More Time
Judge Failla had previously given Coinbase permission to file this special appeal. This allows the exchange to challenge whether current securities laws should even apply to digital assets. The SEC was supposed to respond by February 14, 2025.
However, the agency now wants more time, referencing the ongoing work of the Crypto Task Force. Coinbase has agreed to the delay, so the case will remain on hold for now.
This type of appeal lets a court review a decision while the rest of the case is still going on. By taking more time to respond, the SEC may be playing it safe. They might be waiting for direction from the task force before making a final decision on their next move.
Related: Coinbase, Ripple CEOs Gain Profits With Pro-Crypto Election Victory
Binance Case Also Paused
The SEC’s legal fight with Binance has also been temporarily stopped. On February 10, 2025, both sides jointly asked for a 60-day pause, also citing the Crypto Task Force’s potential influence on regulatory decisions. This suggests a wider rethink of how the SEC will enforce regulations across the crypto industry.
Experts had thought that other companies, like Ripple and Kraken, might also ask for delays. They would want their cases to align with the SEC’s evolving position. This regulatory shift could mean that major exchanges might get some breathing room from legal pressure while the SEC works out its new strategy.
New SEC Leadership & Crypto Task Force
Regulatory developments have coincided with a leadership shakeup at the SEC. Hours before President Trump’s inauguration, Gary Gensler stepped down as SEC chairman, paving the way for pro-crypto attorney Mark Uyeda to assume the role of acting chair.
Under Uyeda, the SEC created the Crypto Task Force to provide clearer rules on how federal securities laws should be used for digital assets.
The task force, led by SEC Commissioner Hester Peirce, is expected to guide the agency’s regulatory approach going forward. This could lead to a more defined and organized system for overseeing the crypto industry. It may also affect current and future enforcement actions.
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