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Topic: SEC and Binance Jointly ask court to pause case for another 60 days (Read 185 times)

Accardo (OP)

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SEC and Binance Jointly ask court to pause case for another 60 days

April 12, 2025, 09:46:37 PM

The SEC has always stayed abstracted on crypto yet own little understanding of the system. The 60 days pause on the Binance 2023 court filing is to accentuate the new laws placed by the crypto taskforce on digital assets and reach out to a term on ways it could work for both parties, and the general crypto users or investors.

Who knows exactly the kind of settlement the SEC are proposing within this interval? The SEC are uncertain of what they want to do with crypto or digital assets regulation, their officials need to read further about how it operate - one sec official mentioned, during the crypto round table yesterday, that she doesn't understand how the prices work. If placing laws on digital assets was that simple they wouldn't have been any need for the 'taskforce'

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NotATether

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Re: SEC and Binance Jointly ask court to pause case for another 60 days

April 13, 2025, 07:37:40 AM

Well there is no reason for the courts to proceed with an immediate judgement if both the plaintiff and defendant want the case ruling to be delayed for some time. The only question is why would they want to delay the court ruling.

For Binance it makes sense (they don't want to get fined again), but in the case of the SEC, I'm guessing that maybe they don't have charges that are sticky enough.

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slaman29

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Re: SEC and Binance Jointly ask court to pause case for another 60 days

April 13, 2025, 07:48:47 AM

Wish I could get the same amount of time for some things, lol.

But anyway, haven't been following news much ever since the new CEO of Binance stepped in. Seems very much like a new era of being nice for them. Noticed way less shitcoins being promoted on them, and more KYC complaints in general

So iin a way, all this SEC intervention ended up being good for the users, keep at it I guess?

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EarnOnVictor

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Re: SEC and Binance Jointly ask court to pause case for another 60 days

April 13, 2025, 08:15:24 AM

Why won't this happen when Trump and his family are now interested in Binance as big-time investors?

Honestly, what came to my mind last month when I heard that Trump and his family are interested in investing hugely in the US branch of Binance was: are these guys (Binance) being blackmailed or seeking some favours from the US government?

It's clearer now, even if many people can't link the pieces together.

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peter0425

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Re: SEC and Binance Jointly ask court to pause case for another 60 days

April 13, 2025, 11:21:48 AM

Quote from: NotATether on April 13, 2025, 07:37:40 AM

For Binance it makes sense (they don't want to get fined again), but in the case of the SEC, I'm guessing that maybe they don't have charges that are sticky enough.

It has been said that they will use this extension for productive discussions. According to court filings, SEC and Binance attorneys agreed to share constructive communications during the pause, stating it would allow time for negotiations and to secure necessary approvals.

It is still unclear how the change of administration will affect this case so I am assuming that they will have a discussion about that too? Maybe they will have some agreements that have never been discussed before. Who knows maybe they can find a middle ground over this period of extension.

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Re: SEC and Binance Jointly ask court to pause case for another 60 days

April 13, 2025, 04:16:54 PM

Quote from: NotATether on April 13, 2025, 07:37:40 AM

Well supposedly the new SEC members are pro-crypto so maybe they give Binance some leverage if Binance's reasons as to why the court case should be paused for another 60 days. They could claim that this pause would help them improve gathering information and would benefit anyone involved in loses as they would get a more accurate set of data to investigate. But im assuming not everyone in the SEC is going to be ok with that only because new Trump admin is broadly more crypto-friendly, there will still be people that don't like crypto and Binance cannot keep delaying for life.

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Re: SEC and Binance Jointly ask court to pause case for another 60 days

April 13, 2025, 04:53:33 PM

Quote from: NotATether on April 13, 2025, 07:37:40 AM

My thoughts too. If you follow legal term very well you will know that many cases has been settled out of court when both the plaintiff and defendent has agreed on it.
I think this collective decision from both the plaintiff and defendent in this case is for them to reason outside the court and seek ways for them to both reach an agreeable decision. This is all fine .

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