The SEC and lawyers request Federal Court to pause Binance case proceedings for an additional 60 days

BlockBeats News, April 12, according to Coindesk's report, the U.S. SEC and Binance's lawyers requested a federal court to once again postpone the SEC and Binance litigation for another 60 days.

It is reported that the U.S. Securities and Exchange Commission (SEC) sued Binance for violating federal securities laws in 2023. In February of this year, after U.S. President Donald Trump was re-elected and appointed Commissioner Mark Uyeda as Acting Chairman, the SEC requested a 60-day pause in the case, which is set to expire next Monday. The SEC explained that they have established a newly formed cryptocurrency working group aimed at drafting clearer guidelines on how securities laws apply to digital assets.

In Friday's filing, lawyers involved in the case stated that, considering "how the efforts of the cryptocurrency working group may affect the SEC's claims," they are therefore requesting another 60-day extension.

The filing stated, "Given these ongoing discussions and the time the staff would need to seek Commission authorization to approve any resolution or alteration of the scope of this litigation when deemed necessary, the SEC requests that Defendants agree to extend the current stay for an additional 60 days, that Defendants agree to the continued stay is appropriate, and that it serves the interests of judicial economy."