Binance reveals that he has been having "productive discussions" with the sec

By Hannah Pérez

Binance and the SEC requested to extend the recess in the legal case for another 60 days, citing the “productive discussions” and the effort in establishing new regulatory frameworks for cryptocurrencies.

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Binance and the SEC have been having “productive discussions.”
Both requested a new pause for 60 days in the legal case.
The SEC abandoned demands against Coinbase and others, but Binance is still ongoing.
Regulators have been talking with high -profile actors from the industry.

The United States Stock Regulators are looking to extend the pause in a legal demand against cryptocurrency exchange Binance As they work in new regulations for the sector.

On Thursday, the lawyers of the US stock and values commission. (Sec), together with the legal representatives of Binancethey asked a federal judge to continue a pause in the case of the regulator against the exchange for another two months.

In a document, presented before a court in the Columbia district and was collected by several newspapers, both cited the “productive discussions”Among the parties, as well as the agency’s recent efforts to create new regulatory frameworks.

“Since the court suspended this case, the parties have been in productive discussions, including discussions about how the efforts of the cryptographic working group can affect the claims of the SEC“, Says the judicial document.

Let’s keep in mind that the SEC demanded Binance Already its then CEO, Changpeng Zhao, in June 2023, accusing them of operating an exchange, stockbroker and compensation agency not registered, and selling values without the relevant permits. Demand covers entities BAM MANAGEMENT US HOLDINGS, BAM TRADING SERVICES and Binance Holdings.

Both agreed to start a break at the beginning of the year, after Donald Trump assumed the presidential position, bringing a new air to the cryptocurrency industry. A district judge from Washington DC approved in February the pause for 60 days in the legal dispute.

“Continuing the stay is appropriate and in the interest of the judicial economy“, The parties said in the presentation of Friday.

Binance and the SEC discuss cryptocurrency regulations

The new pause arrives shortly after the SEC abandoned a series of demands related to cryptocurrencies, including legal cases against exchanges Coinbase, Kraken and Geminias well as Robinhood and Consenys.

Under the Trump administration, the SEC has adopted a regulatory position very different from that of the previous administration so far, making efforts to implement a new set of clear and unified rules for the sector.

The interim president of the SEC, Mark T. Uyeda, who replaced Gary Gensler, established in January a cryptocurrency work group that aims to establish a framework for the supervision of digital assets, which could influence the resolution of legal cases in the process of the agency. Commissioner Hester Peirce, known for her cryptocable approach, heads the group.

On Friday, the lawyers involved in the SEC and Binance They said that The discussions between the two included “How the efforts of the cryptocurrency work group can affect the claims of the SEC ”.

“In the light of these continuous discussions and the time required for the person to request the authorization of the Commission as necessary to approve any resolution or changes in the scope of this litigation, the SEC requested that the defendants agree to continue the current stay for 60 additional days“, Details the judicial document.

The Sec invited executives of Coinbase, Uniswap Labs and CUMBERLAND DRW —These of their former industry rivals – to discuss possible regulatory frameworks specifically designed to appropriately cover the cryptocurrency trade. It is part of a meeting plan with actors of the cryptocurrency industry to discuss the new rules.

Hannah Estefanía Pérez / Diariobitcoin

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