The SEC case against Binance has stopped temporarily as the rules of the encryption band

An American federal judge has suspended a lawsuit against the Securities and Stock Exchange Committee (SEC) against Binance for a period of 60 days. The decision follows a joint request from both SEC and Binance, pointing to the creation of a new workplace to review encrypted currency regulations.

The judge gives 60 days in the Binance case

American boycott judge Amy Berman Jackson agreed to request the case. The order was issued after both parties stated that the new workplace of the Securities and Stock Exchange Committee may affect the resolution of the lawsuit.

SEC filed a lawsuit against Binance and its founder, Changpeng Zhao, in June 2023. The organizer claimed that Binance had inflated trading sizes, converting customer funds, and misleading investors about compliance measures. Zhao later admitted that he was guilty to separate criminal charges and rested the position of CEO.

The judge also ordered SEC and Binance to submit a joint case report by April 14. The report will help determine whether the temporary suspension should continue or if the legal procedures should be resumed.

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Kelvin Monin Murithi

Kelvin is a distinguished writer who has experience in encryption and financing, holding a Bachelor’s degree in Actura Sciences. It is famous for its careful analysis and insightful content.

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