In changing the cryptocurrency, SEC and Binance are looking for a break in litigation | Crypto News

The joint proposal is first a clear effort to withdraw from the previous cryptocurrency implementation of the American regulator under democratic guidance.

Binance and the US Securities Commission (SEC) have asked the federal judge to remain a lawsuit of a regulator against the Crypto Stock Exchange, according to a court, citing the potential influence of the newly launched working group.

The request for a 60 -day stay for staying is a first clear effort to withdraw from the previous crypto implementation of SEC under democratic guidance.

In a joint proposal submitted late on Monday, the parties said that the SEC working group, formed last month to work on crypto regulations, can “influence and facilitate the potential resolution of this case”.

Some were considered by the early sign of the SEC’s agility to the crypto -amni attitude, reflecting the promise of President Donald Trump to become a global center for industry.

The SEC, under the Republican leadership, was expected to start an overview of existing court cases such as those against Binance, where the regulator claimed that companies cited the Kripto Tokens that behave like securities.

The agency spokesman refused to comment on outside the court regulations.

At the event of the Federalist Society of Law Studies and Public Policy, Conservative and Libertarian Law Organization, on Tuesday, Republican commissioner Seconda, Hester Peirce said: “We were approaching her backwards, using our Division for implementing policy implementation.”

‘Sec -lan change on cryptocurrencies’

The SEC regulator sued Binance in June 2023, as well as his US unit and founder Changpeng Zhao, accusing them of artificial inflatable quantity of trading, diverting user agents and misleading investors for controlling market control.

“The SEC case has always been without credit, and we are eager to put this behind and continue to focus on the maintenance of Binance’s safest, licensed and reliable exchange in the world,” said Binance spokesman, while the acting company of the SEC Mark Uyed .

Former Sec officer Corey Frayer criticized his stay.

“The delay of the case in which the Executive Director recognized the guilt for a criminal complaint, and SEC is an employee dead for the rights that acknowledges the violation of the securities law clarifies the displays of the sec on cryptocurrencies, and may culminate in a full order of duty,” he told Reuters.

Separately, Binance in November 2023. He admitted that he violated the law intended to prevent money laundering and Zhao served time in prison for connected charge.

But the US government has leaning a turn on cryptocurrencies since Trump has taken over his duty. The president eavesdropped by Kripto Washington, DC lawyer Paul Atkins as the new SEC president.

Congress has not yet been confirmed by Atkins, but sec has already started changing priorities under the existing Republican guidance, moving some of his lawyers to implement cryptocurrencies to other areas and tightened the surveillance of the investigation.

Previous SEC chair, Gary GenslerHe asked the Congress to help the agency to enter the crypt “Wild West”.

The Sec Peirce on Tuesday noted that comparison with the Wild West has a “positive side” and that regulators should regulate the industry and protect the investors in a way that “recognizes the size of that American spirit that has moved in the West.”