Binance and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day delay in the ongoing lawsuit filed against the crypto exchange, citing the potential influence of a new task force established to review crypto regulations.
This motion marks the first step towards a possible retreat from the SEC’s previous aggressive stance on crypto enforcement under Democratic leadership. The task force, created last month, could help shape the resolution of this case, as both parties believe it may affect the proceedings.
The delay request signals a potential shift in the SEC’s approach, with the agency moving towards a more crypto-friendly stance. This aligns with President Donald Trump’s goal of positioning the U.S. as a global hub for the cryptocurrency sector. Under Republican leadership, the SEC is expected to review ongoing cases, including the one against Binance, which involves accusations of inflating trading volumes, misusing customer funds, and misleading investors about market surveillance.
Binance has continuously argued that the SEC’s case lacks merit, expressing eagerness to resolve the issue and continue securing its position as a trusted and licensed exchange worldwide. The motion follows a recent ruling that allowed most of the lawsuit to proceed.
In parallel, the SEC is making adjustments under its new leadership, including appointing crypto-friendly lawyer Paul Atkins as SEC chair. These changes could signal a pivot in how the agency handles crypto enforcement. However, the regulatory shifts have caused uncertainty among staff, especially as the SEC reassesses its priorities and tightens oversight.
