- FOX Industry journalist Eleanor Terrett believes it will open the door for different firms dealing with SEC court cases
- The SEC sued Binance and its former CEO, Changpeng Zhao, in 2023 for violating securities rules in the United States
Binance and the United States Securities and Change Fee (SEC) have filed a joint movement pausing their criminal case for 60 days.
Consistent with the file, the brand new SEC crypto taskforce – created via appearing SEC chair Mark Uyeda – will have had a conceivable affect at the case.
The movement, submitted to the United States District Court docket for the District of Columbia on February 10, reads: “The paintings of this activity power might affect and facilitate the possible solution of this example.”
Consistent with FOX Industry journalist Eleanor Terrett, this might open the door for different firms dealing with SEC court cases.
In a put up on X, Terrett mentioned: “I be expecting we’ll see different non-fraud instances (i.e. @Ripple, @coinbase, @krakenfx and others) observe swimsuit on this means.”
🚨NEW: Right here’s the primary asked pause on #crypto litigation within the courts since @MarkUyedaUS took over as appearing chair. @binance and the @SECGov have simply filed a joint movement to stick the company’s case towards the alternate for 60 days, mentioning the brand new SEC crypto activity power as… %.twitter.com/D2zcolMNC5
— Eleanor Terrett (@EleanorTerrett) February 11, 2025
SEC court cases
In June 2023, the SEC sued Binance and its former CEO, Changpeng Zhao, for violating securities regulations in the United States.
Consistent with a file, the company argued that Binance secretly enabled high-value US shoppers to business at the platform as an unregistered securities alternate and broker-dealer.
Coinbase, which is combating the SEC, used to be granted an interlocutory attraction in January, quickly postponing its ongoing court docket case. Consistent with the SEC, Coinbase amounted “to the operation of an unregistered brokerage, alternate, and clearing company in violation of federal securities rules.”
Ripple and its long-running case with the SEC stems from its XRP token. In 2020, the SEC sued Ripple, Chris Larsen, and Garlinghouse, alleging that they raised $1.3 billion during the sale of XRP, an unregistered securities providing, in step with the regulator.