Binance has requested a 60-day pause in its legal proceedings with the SEC, pending the outcome of the newly formed Crypto Task Force. The joint motion filed on February 10th suggests the stay could be extended based on the Task Force's recommendations. The exchange argues the report's clarity on crypto regulation will directly impact the case. Experts predict the report could clarify the security status of most altcoins by mid-April. Meanwhile, Binance addresses concerns over recent asset sales, stating they were part of an accounting adjustment and user funds remain secure.
legal proceedings will be briefly paused for sixty days. This would allow the parties to wait for an update from the recently constituted Crypto Task Force .
“At the end of the 60-day stay period, the Parties propose that they will submit a joint status report, including whether a continuation of the stay is warranted.” Whether Ripple, Coinbase, and Kraken, firms with ongoing cases, will follow Binance’s moves remains to be seen. “Now the SEC and Binance have filed for a 60 day stay in their litigation. Effectively asking the court for a pause while they re-evaluate. 60 days from yesterday’s stay request filing is April. 12. We think the SEC will have decided their new view on the security status of cryptos by then.”The firm added that user funds were safe. Additionally, it stated that the alleged ‘sell-off’ was part of an accounting adjustment.
Binance SEC Crypto Task Force Altcoins User Funds
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance and SEC Seek 60-Day Court Stay Amid Crypto Task ForceBinance and the U.S. Securities and Exchange Commission (SEC) have jointly requested a 60-day pause in the SEC's lawsuit against the crypto exchange. The request cites the potential influence of a newly formed SEC task force focused on crypto regulations. This development could signal a shift towards a more crypto-friendly approach by the SEC, aligning with President Trump's goal of establishing the U.S. as a global crypto hub. The SEC's previous stance under Chair Gary Gensler was more critical, leading to the lawsuit against Binance in June 2023.
Read more »
SEC Forms Crypto Task Force to Develop Regulatory FrameworkThe United States Securities and Exchange Commission (SEC) has announced the formation of a new cryptocurrency task force led by Commissioner Hester Peirce. The task force aims to create a comprehensive and clear regulatory framework for crypto assets, marking a potential shift in the SEC's approach to digital assets.
Read more »
Will SEC’s Crypto Task Force spark a new Bitcoin rally?Crypto Task Force is reigniting confidence among risk-weary investors, but the road to a bullish 2025 remains long.
Read more »
BILD applauds City of Mississauga housing task force reportCanada's construction news
Read more »
Elections task force watching Liberal race for signs of foreign interferenceOTTAWA — The Liberal party's leadership race will be monitored by Canada's elections intelligence task force for signs of foreign interference, national s
Read more »
Canada's Elections Task Force to Monitor Liberal Leadership Race for Foreign InterferenceCanada's elections intelligence task force will be closely watching the Liberal Party's leadership race for any signs of foreign interference, according to national security adviser Nathalie Drouin. While the Liberal Party has taken steps to prevent voter fraud, it remains unclear how it will monitor and address potential foreign meddling in the race.
Read more »