The SEC has agreed to suspend its lawsuit against Binance, signalling a potentially momentous shift in U.S. regulatory policy towards crypto firms.
The regulator and the crypto exchange jointly filed a motion to pause the long-running lawsuit, pending fresh guidance from the SEC’s newly created crypto task force—which “may impact and facilitate the potential resolution of this case.”
Legal experts are divided, however, on what this means for the SEC’s enforcement actions against Binance and other crypto companies, with some arguing that it could herald a swift resolution to the cases, while others take a more cautious line.
However, with the White House picking a slew of pro-crypto faces for top regulatory positions, it’s clear that a change is in the air.
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💬 Quote of the Day
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“If the SEC is, in fact, reevaluating all of its legal theories and enforcement in the area, it could be an opening for all of these cases to be paused and perhaps resolved in the near term.”
Robert Heim, former assistant director of the SEC’s New York regional office
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