SEC and Binance Request 60-Day Extension to Pause Legal Proceedings Amid 'Productive' Negotiations

The SEC and Binance have jointly requested a 60-day pause in legal proceedings due to "productive" negotiations, citing ongoing regulatory discussions involving the Crypto Task Force. The SEC's lawsuit accuses Binance of violating U.S. securities laws, including offering unregistered securities and mismanaging customer funds. The parties agree that the current negotiation track is valuable enough to warrant delaying further proceedings. If the court approves the 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.