Key Takeaways
- Both parties said they have held “productive discussions,” and noted that ongoing developments, including the SEC’s internal deliberations and the role of its newly formed Crypto Task Force, could influence the trajectory of the case.
- The February pause followed the departure of former SEC Chair Gary Gensler
The U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a second 60-day pause in their legal proceedings, citing continued discussions that could lead to a resolution. The request, filed on April 11 with the U.S. District Court for the District of Columbia, follows an earlier stay granted in February 2025.
In the filing, both parties said they have held “productive discussions,” and noted that ongoing developments, including the SEC’s internal deliberations and the role of its newly formed Crypto Task Force, could influence the trajectory of the case. The SEC stated that it continues to seek internal authorization for “any resolution or changes to the scope of this litigation,” while Binance agreed that maintaining the stay would serve judicial efficiency.
The legal troubles began in June 2023 when the SEC filed a civil complaint against Binance, its U.S. affiliate Binance.US, and then-CEO Changpeng Zhao. The agency alleged that the company operated as an unregistered securities exchange, broker, and clearing agency, in violation of federal law. Additional claims included commingling of customer funds, market manipulation, and offering unregistered securities through products like BNB, Binance USD (BUSD), Simple Earn, BNB Vault, and a staking program.
If approved, the latest pause would extend the stay for another 60 days. At the conclusion of that period, the SEC and Binance plan to submit another joint status report outlining any further developments. This marks the second such request this year, with the earlier one filed shortly after the change in SEC leadership.
The February pause followed the departure of former SEC Chair Gary Gensler on January 20. Mark Uyeda, known for a more moderate stance on crypto regulation, assumed the role of acting chair. One day later, the SEC announced the creation of its Crypto Task Force, which was formed to evaluate digital asset policy and enforcement. The task force has stated that it aims to develop clearer regulatory guidelines, enable more practical registration pathways, and focus enforcement resources effectively.
“The Defendants agreed that continuing the stay is appropriate and in the interest of judicial economy,” the filing said, referring to the proposed pause as a means of avoiding unnecessary litigation while negotiations continue.
This request also comes amid a broader shift in the SEC’s enforcement posture. In recent weeks, the regulator has withdrawn or paused actions against several major cryptocurrency firms, including Coinbase, Kraken, Gemini, Robinhood, and Consensys.
