Binance Lawsuit Halted Pending SEC Crypto Task Force Review
A federal judge has suspended the SEC's lawsuit against Binance for 60 days at the request of both parties. The decision follows the formation of an SEC task force to examine cryptocurrency regulation, which could influence the case's resolution.
Commissioner Hester Peirce, a crypto advocate, heads the newly established task force. The SEC initiated legal action against Binance and Changpeng Zhao in June 2023 for alleged market manipulation, misuse of customer funds, and misleading investor disclosures.
President Trump has expressed support for the cryptocurrency sector and nominated crypto-friendly Paul Atkins as the next SEC Chair. Atkins would succeed Gary Gensler, who has faced industry criticism for advocating increased cryptocurrency regulation.