By Nermeen Nabil Khear 
The U.S. SEC and Binance have jointly requested a 60-day pause on their ongoing lawsuit. Both organizations cited the possible impact of the new crypto task force launched by the new administration on crypto policies.
Binance and the SEC have been at loggerheads since the regulator accused Binance of offering unregistered securities. However, many see the motion, which was filed late Monday, as a possible determinant of how the SEC could approach the crypto industry under a new administration.
SEC’s Approach to Crypto: A Contrast with the Biden Administration
Unlike the Biden administration, the SEC, under Trump, appears willing to adopt a less intensive approach. The commission’s former chair, Gary Gensler, oversaw several enforcement actions against notable crypto platforms.
Binance was a major recipient of these actions. In 2023, the SEC sued Binance’s US division alongside Changpeng Zhao, Binance’s founder.
INTEL: Binance and SEC request 60-day pause, signaling a possible settlement.
Ripple, Coinbase, and Kraken may follow pic.twitter.com/yyG3lsLLkn— Solid Intel
(@solidintel_x) February 11, 2025
The regulator accused both parties of diverting customer funds, inflating trade volumes, and misleading investors. Although Binance denied the claims, the exchange was forced to settle with the SEC. In addition, Changpeng Zhao served a 4-month jail sentence.
A Changing Regulatory Landscape
The SEC’s request for a pause has fueled speculation that the agency is stepping away from its aggressive enforcement approach. Some view the move as a sign of the SEC’s softening stance on crypto. A Binance spokesperson welcomed the pause, stating, “We are eager to put this behind us and continue our focus on keeping Binance the most secure, licensed, and trusted exchange in the world.” The spokesperson also thanked acting SEC Chair, Mark Uyeda.
However, critics argue that delaying the case sets a troubling precedent. Former SEC official Corey Frayer warned, “Delaying a case where the CEO pled guilty to criminal charges and the SEC has an employee admitting violations of securities laws clarifies that the agency’s shift on crypto may lead to a full dereliction of duty.”
Priorities of the “Crypto Task Force” pic.twitter.com/SDmn0UD0F7
— Crypto Kid (@CryptoKidcom) February 4, 2025
Meanwhile, SEC Commissioner Hester Pierce recently outlined some of the priorities of the new crypto task force. These include properly classifying tokens and knowing which fall under securities laws.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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