SEC, Binance Pause Coinbase Lawsuit for 60 Days Amid New Crypto Task Force
The U.S. Securities and Exchange Commission (SEC) has taken legal action against Coinbase, alleging the crypto exchange offered unregistered securities. The case, initiated in June 2023, has seen several developments, including a joint request by the SEC and Binance to pause their lawsuit for 60 days.
The SEC's review of digital asset issues is ongoing, requiring more time to complete its response to Coinbase's petition. This has led to extensions in the case's timeline. Notably, the SEC has requested an additional 28 days to evaluate Coinbase's appeal, pushing the deadline to March 14, 2025.
The pause in the lawsuit comes amidst the formation of the SEC's new crypto task force. This has sparked speculation that longstanding lawsuits against major cryptocurrency firms may soon be resolved. After the 60-day period, Binance and the SEC will issue a report to determine if extending the stay is warranted.
The SEC's legal action against Coinbase continues, with the latest development being a joint request to pause the lawsuit for 60 days. The formation of the SEC's new crypto task force has raised hopes for swift resolution of ongoing cases in the crypto industry.
Read also:
- Saudi Arabia's TASI Surges Past 11,000, Leading Gulf Equities Rally
- TikTok's deal negotiations continue following a conversation between Xi and Trump
- Trump announces agreement with Chinese authorities on TikTok deal
- Quantum Computing Market in the Automotive Sector Forecast to Expand to $6,462.13 Million by 2034
