SEC and Binance file joint motion for another 60-day pause in legal dispute

SEC and Binance told the court they are in “productive discussions” and want the case paused for another 60 days while seeking agency approval.

Business•April 12, 2025, 11:54AM EDT
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SEC and Binance file joint motion for another 60-day pause in legal dispute

Quick Take

  • The SEC and Binance have asked the judge overseeing their legal dispute to pause the case for 60 days as “productive discussions” continue. 
  • The pause would extend the current 60-day stay, which was approved in February.
  • If approved, the parties will submit a joint status report at the end of the 60 days, in mid-June. 
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The Securities and Exchange Commission and Binance, the world's largest crypto exchange, have asked the judge overseeing their legal dispute to continue keeping the case on hold as lawyers on both sides hold "productive discussions." 

According to a joint court filing submitted Friday, the SEC requested the pause be extended "...In light of these continued discussions and the time required for the staff to seek authorization from the [SEC] as necessary to approve any resolution or changes to the scope of this litigation." Binance's lawyers agreed that "...continuing the stay is appropriate and in the interest of judicial economy." 

Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia granted the parties' original request to stay the case in February, following a similar joint motion. The approval of another 60-day pause would mean the next joint status report would land in mid-June. 

Though some of the SEC's claims against Binance were partially dismissed by Judge Jackson last June, the majority of the claims were upheld, though it remains unclear how the changing leadership of the SEC will affect the case. Friday's filing references "discussions concerning how the efforts of the crypto task force may impact the SEC’s claims." 

The SEC's crypto task force is headed by Republican Commissioner Hester Pierce and has been holding roundtables with industry figures in a move towards more transparent regulation of the crypto industry. "We invite builders, enthusiasts, and skeptics to engage with us to figure out what the final rules should be and what interim steps might help to foster innovation in the meantime," Pierce said in February, shortly after the task force's creation.