{"id":12472,"date":"2025-02-11T14:01:56","date_gmt":"2025-02-11T14:01:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12472"},"modified":"2025-02-11T14:01:56","modified_gmt":"2025-02-11T14:01:56","slug":"binance-and-sec-call-temporary-truce-coinbase-kraken-may-follow-suit","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12472","title":{"rendered":"Binance And SEC Call Temporary Truce: Coinbase, Kraken May Follow Suit"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">The US Securities and Exchange Commission (SEC) has decided to pause its lawsuit against Binance for 60 days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Both Binance and the SEC jointly requested a federal judge to stay the lawsuit. Both parties cited the \u201cpotential impact of a newly launched task force.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to a 11 February 2025 <a href=\"https:\/\/www.reuters.com\/markets\/currencies\/binance-sec-request-pause-legal-battle-trumps-crypto-policy-takes-shape-2025-02-11\/\" target=\"_blank\" rel=\"nofollow\">Reuters report<\/a>, <\/span><span style=\"font-weight: 400\">the move to stay for 60 days, which requires the judge\u2019s approval, marks the first clear effort to retreat from the SEC\u2019s previous crypto enforcement under Democratic leadership.<\/span><\/p>\n<p><span style=\"font-weight: 400\">US President Donald Trump\u2019s SEC has a different approach to crypto regulation obviously. Could this set a precedent for similar actions involving other major players like Ripple, Coinbase, and Kraken?<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">NEW: Here\u2019s the first requested pause on <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#crypto<\/a> litigation in the courts since <a href=\"https:\/\/twitter.com\/MarkUyedaUS?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@MarkUyedaUS<\/a> took over as acting chair. <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@binance<\/a> and the <a href=\"https:\/\/twitter.com\/SECGov?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@SECGov<\/a> have just filed a joint motion to stay the agency\u2019s case against the exchange for 60 days, citing the new SEC crypto task force as\u2026 <a href=\"https:\/\/t.co\/D2zcolMNC5\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/D2zcolMNC5<\/a><\/p>\n<p>\u2014 Eleanor Terrett (@EleanorTerrett) <a href=\"https:\/\/twitter.com\/EleanorTerrett\/status\/1889175581423796304?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 11, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>Explore:\u00a0<a href=\"https:\/\/99bitcoins.com\/news\/who-is-mark-uyeda-new-sec-chief-could-spark-a-crypto-golden-age\/\" rel=\"bookmark\">Who is Mark Uyeda? New SEC Chief Could Spark a Crypto Golden Age<\/a><\/strong><\/p>\n<h2>New Task Force May Facilitate A Resolution<\/h2>\n<p>According to the filing by both the parties, \u201cThe work of this task force (new SEC task force) may impact and facilitate the potential resolution of this case.\u201d<\/p>\n<p>Following the 60-day period, the parties plan to issue a joint status report to see whether a continuation of the stay is warranted.<\/p>\n<p>SEC had <a href=\"https:\/\/www.sec.gov\/newsroom\/press-releases\/2025-30\" target=\"_blank\" rel=\"nofollow noopener nofollow\">announced<\/a> a dedicated cryptocurrency task force on 21 January 2025.\u00a0\u00a0\u201cCommissioner Hester Peirce will lead the task force,\u201d the announcement said. People in the crypto world are optimistic about Peirce\u2019s appointment as the task force\u2019s leader.<\/p>\n<p>Peirce has been known as \u201cCrypto Mom\u201d for her pro-crypto stance and her dissenting views on enforcement actions (specifically by Former Chain Gary Gensler) that she believed to be excessively harsh or ineffective.<\/p>\n<p>Notably, under the tenure of former Chair Gary Gensler, the agency pursued an aggressive enforcement strategy against cryptocurrency firms. However, the new agency has signaled a potential departure from this hardline approach.<\/p>\n<p>83 enforcement actions were initiated, targeting major players like Coinbase, Binance, and Ripple Labs. These cases often revolved around allegations of securities law violations, such as selling unregistered tokens or failing to register platforms as exchanges.<\/p>\n<p><strong>Explore:\u00a0<a href=\"https:\/\/99bitcoins.com\/news\/trumps-sec-will-re-examine-83-crypto-cases-can-dismiss-actions-without-fraud-allegations\/\" rel=\"bookmark\">Trump\u2019s SEC Will Re-Examine 83 Crypto Cases, Can Dismiss Actions Without Fraud Allegations<\/a><\/strong><\/p>\n<h2 class=\"page-title\">SEC Makes A Series Of Pro-Crypto Moves: Bitwise, Ripple Benefit<\/h2>\n<p>Recently, SEC granted accelerated approval for Bitwise Bitwise Asset Management\u2019s hybrid <a href=\"http:\/\/xn--%5Bcoin-widget%20coin_id=btc-bitcoin%5D-421vpb\/\" target=\"_blank\" rel=\"nofollow noopener nofollow\">Bitcoin<\/a>-Ethereum exchange-traded fund (ETF). On 30 January 2024,\u00a0<a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nysearca\/2025\/34-102310.pdf?ref=blockhead.co\" target=\"_blank\" rel=\"nofollow noopener nofollow\">the filing<\/a>, approving Bitwise\u2019s BTC-ETH ETF said, \u201cthe Trust\u2019s allocation of its assets to bitcoin and ether will approximate the relative market capitalization of bitcoin and ether to one another.\u201d<\/p>\n<p>This move by the Trump administration\u2019s SEC marks a pivotal moment in the crypto-based financial products offerings. Meanwhile, Bitwise had been pushing for clearer regulations.<\/p>\n<p>Meanwhile, the heated lawsuit between Ripple Labs and the agency suddenly disappeared from the <a href=\"https:\/\/www.sec.gov\/\" target=\"_blank\" rel=\"nofollow noopener nofollow\">SEC website<\/a>.<\/p>\n<p>The case that started in December 2020 has no remaining references on the SEC website. This has led the crypto community to believe that after the Trump Administration and the new SEC leadership came into effect, the controversial war between Ripple and the SEC has officially been dropped.<\/p>\n<p>Ripple\u2019s case has been an important one, especially\u00a0in shaping regulatory discourse around cryptocurrencies.<\/p>\n<p>Under its new leadership, the agency\u00a0 is also expected to reassess its stance on cryptocurrency-related cases.<\/p>\n<p>\u201cIn the first few days of the new administration, the SEC is expected to begin a review of those court cases and potentially freeze some litigation that does not involve allegations of fraud,\u201d\u00a0<a href=\"https:\/\/www.ft.com\/content\/4146fbca-2930-41ef-965d-9cc8ea1d9aaf\" target=\"_blank\" rel=\"nofollow noopener nofollow\">a 16 January 2025 Reuters report confirmed.<\/a><\/p>\n<p><strong>Explore: <a href=\"https:\/\/99bitcoins.com\/news\/sec-grants-accelerated-approval-of-bitwises-combined-bitcoin-ethereum-etf\/\" rel=\"bookmark\">SEC Grants Accelerated Approval To Bitwise\u2019s Combined Bitcoin-Ethereum ETF<\/a><\/strong><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/binance-and-sec-call-temporary-truce-coinbase-kraken-may-follow-suit\/\">Binance And SEC Call Temporary Truce: Coinbase, Kraken May Follow Suit<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission (SEC) has decided to pause its lawsuit against Binance for 60 days.\u00a0 Both Binance and the SEC jointly requested a federal judge to stay the lawsuit. Both parties cited the \u201cpotential impact of a newly launched task force.\u201d According to a 11 February 2025 Reuters report, the move to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12472","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12472","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12472"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12472\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12472"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12472"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12472"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}