New York, May 11, 2025, 12:00 PM EST — Binance and the U.S. Securities and Exchange Commission (SEC) have jointly requested a pause in their ongoing litigation. The request, filed today with the U.S. District Court for the Southern District of New York, seeks to give both parties space to explore a potential agreement.
Since June 2023, the SEC has accused Binance of operating securities exchanges illegally and misleading investors. Binance has denied the allegations, arguing that the SEC lacks jurisdiction over its operations.
The request for a pause indicates a possible change in strategy for both parties. Sources close to the case suggest that negotiations for an agreement have been ongoing for weeks. An agreement could avoid a lengthy and costly trial, benefiting both parties.
The judge overseeing the case has not yet ruled on the request. However, the decision could have significant implications for the future of cryptocurrency regulation in the United States. The crypto community is watching closely, hoping that this potential agreement will clarify the regulatory landscape and promote responsible innovation.
"An agreement between Binance and the SEC could set an important precedent for cryptocurrency regulation in the United States."
