Binance and SEC submitted a joint request to hold the ongoing case.
The crypto community wants to drop the case instead of delaying it.
Binance and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to put their lawsuit on hold. This step is taken due to the SEC’s cryptocurrency working group potentially intervening in the lawsuit process.
According to Fox Business reporter Eleanor Terrett, this was the first request to pause a crypto lawsuit in the court since Mark Uyeda was appointed as acting chair.
In December 2024, Binance and its founder Changpeng “CZ” Zhao requested the court to dismiss the case. The exchange claims that the SEC was unable to highlight how its complaint satisfies the Howey test.
Besides this, CZ also argued that the regulator failed to provide a clear method to differentiate between tokens sold as investments and those sold as commodities. This includes prominent cryptocurrencies like Bitcoin and Ethereum.
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We współpracy z: https://thenewscrypto.com/binance-and-sec-file-joint-motion-to-pause-litigation-for-60-days/
