The American Securities and Exchange (SEC) and Binance commission jointly requested a suspension of 60 days from their current trial, according to a file of February 10.
The two parties explained that this decision had been made because the SEC established a working group in crypto dedicated under interim president Mark Uyeda. According to the file, the work of the working group could influence the resolution of the case.
Given this, the financial regulator offered a temporary break, and Binance agreed, citing legal efficiency as a key factor. Once the suspension is completed, the two parties will submit a joint situation report to determine whether an extension is necessary.
The deposit indicated:
“As this is a joint movement, there is no prejudice to a party here, and a stay could save the resources of the parties because an early resolution could be reached, this would avoid the need to continue the discovery of merit. “
This marks an interesting development in a legal action initially brought in 2023. At the time, the financial regulator accused the Binance of violating the American laws on securities by offering several tokens, notably Solana, Cardano and Algorand. SEC maintains that these assets meet the Howey test criteria for titles.
In July 2024, the agency tried to modify its complaint, but Binance responded with a request for rejection of the amendment and the whole case.
Dry crypto approach
This evolution reflects a broader change in the approach of the dry to cryptographic regulations under the direction of Uyeda.
The new leadership has introduced a “crypto working group” and launched a dedicated web page describing the scalable regulatory position of the agency on digital assets.
Commissioner Hester Peirce, long -standing defender of the more explicit cryptography regulations, directs the working group. She has repeatedly criticized the previous dry application tactics, arguing that opaque directives have stifled innovation and forced cryptographic companies to navigate in uncertain legal ground.
Adding to these modifications, the SEC would have reduced the workforce of a specialized unit of more than 50 lawyers and members of staff previously focused on the application of cryptography. This restructuring further strengthens the idea that the agency rethinks its position on digital assets.
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