A federal judge submitted by the American Securities and Stock Exchange Committee (SEC) and the exchange of encrypted currency to “survival” temporarily on the civil lawsuit of the Securities Council and the Stock Exchange against the company.
SEC-Binance case in “Hold”
🚨update: Judge Amy Berman Jackson gave Binance and SecgovA joint suggestion to stay in the case against Binance for the required 60 days. It also requested a joint case report by April 14. https://t.co/qwzwyl5yy pic.twitter.com/fxwprnhnfx
Eleanorterrett February 13, 2025
According to the Fox Eleanor Territ correspondent, Judge Amy Berman Jackson agreed to the proposal “Stay in the Binance case for 60 days”, and he instructed Binance and SEC to submit a joint report by April 14. The residency request follows the establishment of a coding workplace by SEC Mark Oida Chairman in January.
As I mentioned earlier, Binance and SEC provided a joint movement to stay this 60 -day way, noting the potential impact of the newly established cryptocurrency group on the case. The file stated, “The work of this group may affect and develop this issue.” The Securities and Stock Exchange Commission suggested a brief residence for the defendants, and they agreed that residence is appropriate and the interest of judicial competence.
It is worth noting that the work squad was formed after an executive order signed by President Joe Biden in January. One of its basic responsibilities is to develop a federal regulatory framework for digital assets. When the work squad was launched on February 4, its main goal was to create a clear framework for encryption companies to follow up.
With the Binance and SEC suspension now, you may follow the example of other encrypted exchanges, including Coinbase and KAKEN. In fact, since SEC’s deadline for the intermediary Coinbase today, all attention to the response, which can serve as a turning point for future encryption vowing regarding securities.
Also read: United States, CFTC to restart the joint advisory committee for organizational cooperation
