In a key development that could reshape one of the most high-profile legal battles in the crypto world, the U.S. Securities and Exchange Commission (SEC) and Binance have jointly requested a 60-day extension to pause legal proceedings. According to court filings referenced by FOX Business journalist Eleanor Terrett on April 11, 2025, both parties described recent talks as “productive” and cited ongoing regulatory discussions involving the Crypto Task Force.
This move suggests that settlement efforts may be gaining traction, potentially paving the way for a resolution outside the courtroom.
Why the Delay? SEC Cites Internal Review and Crypto Task Force Involvement
The filing, submitted to the District Court for the District of Columbia, outlines the parties’ mutual agreement to extend the stay initially ordered on February 13, 2025. The SEC explained that certain proposed resolutions are undergoing internal review processes within the agency, which require time to finalize.
Some of these proposals are reportedly influenced by ongoing work with the Crypto Task Force, a specialized regulatory group assigned to modernize and enforce crypto compliance standards in the United States. The delay reflects the complexity of negotiations, where legal, regulatory, and political elements intersect.
According to Turkish NY Radio, this legal pause is less about courtroom battles and more about giving space for regulatory diplomacy.
What the Case Is About: SEC’s Core Allegations
The SEC’s lawsuit accuses Binance of multiple violations of U.S. securities laws, including:
- Offering unregistered securities via certain crypto assets
- Enabling U.S. users to trade on Binance’s global platform
- Mismanagement of customer funds with inadequate transparency
- Failing to ensure full independence between Binance.US and Binance’s global leadership under Changpeng Zhao (CZ)
The regulator sees this lawsuit as a critical step in its broader strategy to tighten control over digital asset markets in the U.S.
Why a Pause Now? Parties Focus on Settlement Potential
The court documents make it clear: both parties agree that the current negotiation track is valuable enough to warrant delaying further proceedings. SEC representatives stressed the importance of gaining internal approvals for possible changes to the case or new regulatory commitments. These processes are time-bound and bureaucratically intensive, according to the filing.
While no final agreement has been reached yet, the collaborative tone of the request hints that both sides may be more focused on resolution through negotiation rather than litigation.
What Comes Next?
If the court approves this new stay, proceedings will remain paused for an additional 60 days, providing crucial time for both sides to align on key issues and potentially reach a settlement. The outcome of this legal process could set new precedents for how crypto exchanges interact with U.S. regulators moving forward.
Turkish NY Radio will continue to monitor the legal timeline and publish updates as new details emerge about the SEC-Binance negotiations.
