- Binance and SEC made a joint request to maintain the ongoing issue.
- The encryption community wants to drop the issue instead of delaying it.
Binance and the US Securities and Stock Exchange Committee (SEC) jointly submitted a proposal to make a lawsuit. This step is taken due to the SEC’s cryptocurrency working group that is likely to interfere in the case.
According to the Fox business correspondent Eleanor TeretThis was the first request to suspend a court lawsuit since Mark Oida was appointed as a prosecutor.
In December 2024, Binance and its founder called Changpeng “CZ” Zhao from the court rejecting the case. The Stock Exchange claims that the Supreme Education Council was unable to highlight how its complaints are met with the Howe Test.
Besides, CZ also argued that the regulatory agency failed to provide a clear way to distinguish between the symbols that were sold as investments and those sold as commodities. This includes prominent cryptocurrencies like Bitcoin and Ethereum.
Stop for a period of sixty days on litigation Pines
Today, journalist Elianor Territ revealed the latest update on SEC lawsuit against Binance. I mentioned that both parties are planning to issue a joint case report after a period of 60 days to assess whether the continuation of the residence is necessary.
Terrett also expects that encryption claims such as Ripple XRP, Coinbase and Kaken may do the same. However, the opinions of Crypto Community are different in this update that were seen in the Terrett suspension section. Most users believe that cases should be dropped instead of delaying them.
These comments clearly show that the encryption community is now tired of these lawsuits because they hinder the growth of the encryption space as well as encryption work. Moreover, legal expert Jeremy Hogan It also predicted in their X Publication that the XRP lawsuit will settle before ETF approval.
The news of the encryption was highlighted today:
Litecoin ETF performs 90 % approval, while etfs XRP backward
