12-4-2025 – The ongoing legal battle between America’s financial watchdog and one of the world’s largest digital currency exchanges has entered a new phase of potential reconciliation.
Legal representatives from both the Securities and Exchange Commission (SEC) and Binance have jointly petitioned a federal court to extend the temporary suspension of proceedings for an additional two-month period, citing constructive negotiations between the parties.
The matter stems from a substantial lawsuit initiated by the SEC in 2023, which levelled serious allegations against Binance, its American subsidiary, and key figures including former chief executive Changpeng Zhao. The regulatory body contended that the exchange had operated without proper licensing across multiple financial service categories.
Following the return of Donald Trump to the White House and his subsequent appointment of Mark Uyeda as acting chair of the SEC, the regulatory landscape has shown signs of evolution. A specialised cryptocurrency task force was established, aimed at providing more precise guidelines regarding the application of securities regulations to digital assets.
This development prompted an initial 60-day pause in the legal proceedings, which was due to conclude at the start of the coming week. The latest joint submission to the court emphasises ongoing discussions concerning the potential impact of the newly formed task force’s work on the SEC’s original claims.
The legal teams have indicated that additional time is necessary to allow for proper Commission authorisation regarding any potential resolution or modifications to the scope of the litigation. Both parties have expressed agreement that this extension serves the interests of judicial efficiency.