Binance and the SEC Case Gets Another 60-Day Pause

The first, Binance and the SEC, was last paused in February, though late Friday attorneys asked for another extension to continue discussing matters.

Late Friday, attorneys with the U.S. Securities and Exchange Commission and Binance asked a federal judge to continue a 60-day pause in the case for another 60 days.

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Who's left?

The narrative

We heard about two more Securities and Exchange Commission (SEC) cases this week. The first, Binance and the SEC, was last paused in February, although late Friday attorneys asked for another extension to continue discussing matters. Separately, Nova Labs settled allegations with the regulator.

Why it matters

As we continue to watch the SEC develop its new views on digital asset issues, how it treats its active litigation remains a key signal.

Breaking it down

On Friday, attorneys with the SEC and Binance (as well as Binance founder Changpeng Zhao, Binance.US and other parties) filed a joint motion asking the federal judge overseeing the case to extend a pause originally set to expire Monday by another 60 days.

Originally, the SEC said it was requesting the pause to see how the agency's new crypto task force might address digital assets and the application of securities laws. Friday's filing again highlighted this point, saying the task force's work "may impact" its claims in the ongoing litigation. The original pause was set to end on April 14.

The SEC also filed a motion for a consent judgement after apparently coming to a settlement agreement with Nova Labs, the company behind Helium. According to the proposal, Nova Labs would pay $200,000 but would not admit to or deny the allegations.

The SEC first sued Nova Labs in January 2025 — specifically, Jan. 17, 2025, three days before Donald Trump was sworn into office as the 47th U.S. President.

I imagine there are more cases or investigations being resolved than CoinDesk has caught — if you've got a Wells Notice that's now been closed out, hit us up, we're very curious. You can reply to this email or reach out on Telegram and Signal.

Stories you may have missed

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See ya’ll next week!