The U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Binance have requested a federal court to extend the pause in their case by another 60 days.
According to the document, since the previous suspension, the parties have engaged in “productive discussions” regarding how the SEC’s crypto task force efforts might impact the Commission’s claims. At that time, they requested a two-month pause and promised to provide a joint report on the discussion outcomes.
Upon the expiration of the stated period, the SEC proposed to the exchange to extend the suspension by another 60 days to continue the dialogue and allow Commission staff the necessary time to “approve any resolution or changes” in this case. Binance agreed.
As before, the parties will issue a joint report in two months.
In 2023, the SEC filed 13 charges against Binance and its founder Changpeng Zhao (CZ), including allegations of unregistered offering and sale of BNB and BUSD tokens. The regulator sought to ban the exchange’s operations in the U.S., seize illegally obtained revenues with interest, and impose financial penalties on the company and CZ.
Earlier in April, a Nigerian court postponed the hearing of a case against Binance concerning tax evasion.