Late Friday, lawyers representing both the U.S. Securities and Exchange Commission (SEC) and Binance submitted a joint request for a federal judge to extend an existing 60-day pause in their ongoing case by an additional 60 days.
What’s Happening?
The request for the pause comes as both parties continue to discuss various matters related to the case. In a related development, Nova Labs reached a settlement with the SEC concerning allegations against it.
Why This Matters
The SEC’s approach to such cases offers insight into its evolving stance on digital asset regulation and how it manages active litigation.
Details of the Request
Attorneys stated that this extension would allow sufficient time to evaluate how the agency’s newly formed crypto task force may influence their claims in the ongoing litigation. The previous pause was set to end on April 14.
Additionally, the SEC filed a consent judgment following a settlement with Nova Labs, which will see the company pay a fine of $200,000 without admitting to any wrongdoing. The original lawsuit against Nova Labs was initiated in January 2025, just days before the inauguration of Donald Trump as the 47th President of the U.S.
As observers, we suspect that more cases or investigations may be resolved that have not yet come to light. If you have insights or experiences regarding the ongoing inquiries, feel free to reach out.
Recent Headlines You May Have Missed
- DOJ Disbands Crypto Unit Amid Regulatory Changes: The Department of Justice dismantled its National Cryptocurrency Enforcement Team.
- Crypto Laundering Tool Targeted by North Korea: THORChain continues to be used by North Korean hackers for illicit operations.
- SEC Approves Ether ETF Options: The SEC has allowed trading of Ether ETF options this week.
- Block Settles Allegations with New York: Block agreed to a $40 million settlement due to improper money laundering controls.
