Binance and SEC File Joint Motion to Pause Lawsuit for 60 Days – Ripple and Coinbase Are the Next?

Published: February 11, 2025|Last updated: February 11, 2025

Binance and SEC file joint motion to pause lawsuit for 60 days
Establishment of the new crypto task force could resolve the case

Binance and SEC filed a joint motion to pause the lawsuit for 60 days, which may lead to a long-awaited resolution and may not be just for Binance. The establishment of the new crypto task force under SEC Commissioner Hester Peirce may "impact and facilitate the potential resolution of this case."

More About the SEC vs Binance Case

Recall that the case dates back to June 2023 when the SEC filed a lawsuit against Binance and its co-founder Changpeng Zhao, accusing them of 13 violations of U.S. securities laws. The case carried on for several years, and France's National Jurisdiction for the Fight against Organized Crime (JUNALCO) began investigating Binance for money laundering, tax fraud, and drug trafficking.

However, with the arrival of the new Donald Trump administration, and his pro crypto initiatives, which include a new crypto task force – the situation could change dramatically, especially given the unprecedented way that Binance and SEC jointly filed the motion.

As SEC Commissioner Hester Peirce said:

"it may impact and facilitate the potential resolution of this case."

Conclusion

This is an unprecedented case, which can probably be seen as a very telling sign of solidarity between regulators and major crypto industry players, including regarding their concerns.

It would be reasonable to assume that the cases against Ripple and Coinbase could also go this way, although there are no direct hints for that right now.

Be aware and stay tuned for updates on the rapidly reshaping crypto landscape.

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The content provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more