SEC and Binance Seek Additional 60-Day Pause Amid Ongoing Settlement Talks

The U.S. Securities and Exchange Commission (SEC) and global crypto exchange Binance are jointly requesting a 60-day extension to pause their legal proceedings, citing continued "productive discussions" that could shape the outcome of one of the most high-profile regulatory cases in the crypto sector.

In a court filing submitted Friday, both parties expressed a mutual desire to continue the temporary suspension granted earlier this year. The filing noted that more time is needed for the SEC staff to secure internal authorization for any potential resolutions or adjustments in the case. Binance’s legal team also supported the motion, emphasizing that an extended pause would serve the interests of "judicial economy."

U.S. District Judge Amy Berman Jackson, who oversees the case in Washington, D.C., had previously granted a similar request in February. If this new motion is approved, the next joint status report from both parties would be due in mid-June, marking another key moment in the ongoing legal saga.

The legal battle between the SEC and Binance began in 2023, when the commission accused Binance of violating U.S. securities laws. Although Judge Jackson dismissed some of the SEC’s claims in June 2023, a significant portion of the case remains active. The outcome could set new precedents for how crypto platforms are regulated in the United States.

Adding a layer of complexity, Friday’s filing briefly alludes to the SEC's internal Crypto Assets and Cyber Unit, also known as the crypto task force, and its potential influence on the case. The task force, which aims to modernize regulatory frameworks around digital assets, is being led by Commissioner Hester Peirce—known in crypto circles as “Crypto Mom” for her open stance toward blockchain innovation.

Speaking earlier this year, Peirce encouraged collaboration across the industry:

“We invite builders, enthusiasts, and skeptics to engage with us to figure out what the final rules should be and what interim steps might help foster innovation in the meantime.”

With regulatory approaches to digital assets still evolving—and leadership within the SEC potentially shifting—the final outcome of this case could have lasting effects on how global crypto companies operate within U.S. borders.