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Judge Grants Request for 60-Day Hold on SEC Lawsuit Against Binance

  • A federal judge has granted a joint request by the SEC and Binance to put the SEC's civil lawsuit on hold for 60 days.
  • The SEC and Binance proposed the stay, indicating that the work of a crypto taskforce formed by the SEC might impact and facilitate the potential resolution of the case.
  • The SEC filed 13 charges against Binance in June 2023, alleging securities law violations including operating as unregistered exchanges, making unregistered offers and sales of crypto assets, and misleading investors.
  • The SEC's crypto taskforce aims to develop a federal regulatory framework governing digital assets, protecting investors from scams while providing clarity for crypto businesses.

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