- The SEC and Binance have jointly requested a second 60-day pause to continue settlement talks..
- This is the second time that the two have filed for a 60-day pause in recent months.
- The SEC and Ripple also recently requested a 60-day pause on submissions to resolve the lawsuit.
The legal battle between crypto exchange Binance and the United States Securities and Exchange Commission (SEC) saw a new development Friday with both parties jointly requesting a 60-day pause in their ongoing lawsuit.
This newest filing (April 11, 2025), points to continued “productive discussions” and a shared intention to find a resolution outside the courtroom.
The lawsuit, first filed in June 2023, accused Binance and its co-founder Changpeng Zhao of serious violations of securities laws, including allegedly misleading regulators.
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Does Pause Signal Softer SEC Tone Under New Leadership?
The SEC, now transitioning from acting chair Mark Uyeda to newly confirmed chair Paul Atkins, is exhibiting a notable change in tone.
Under Uyeda’s leadership, the SEC has toned down its rhetoric toward strict crypto regulation, instead proposing the idea of a conditional, temporary, regulatory arrangement that supports innovation while the SEC crafts permanent guidelines.
This proposed framework would offer “time-limited, conditional exemptive relief” to crypto firms—both registered and unregistered—allowing them to operate more freely under a single SEC license instead of navigating a confusing patchwork of state-by-state rules.
Uyeda, speaking at an SEC roundtable on April 11 titled “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading,” emphasized that blockchain can streamline securities transactions, making them more efficient and reliable than traditional methods. As a result, a regulatory framework should be such that it doesn’t hinder innovation.
Filing Cites Need to Address “Policy Implications”
The April 11 court filing points back to the court’s earlier February 13 order, which had already paused the case 60 days to allow for discussions.
The SEC and Binance have now come up, in unison, for another extension so as to address policy implications and define specific actions Binance needs to take to resolve the SEC’s regulatory concerns.
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The motion also acknowledges that the SEC is still assessing information and may need to alter its remedial strategy, reflecting the dynamic nature of the crypto space.
Interestingly, this development mirrors the SEC’s efforts to wrap up other high-profile cases, including its settlement discussions with Ripple and moves to end actions against Coinbase and Kraken.
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