In a significant development within the cryptocurrency landscape, Binance has issued a statement on February 11, addressing the recent decision by the U.S. Securities and Exchange Commission (SEC) to suspend its case review for a 60-day period. Binance expressed its appreciation for the efforts of Acting Chairman Uyeda, emphasizing the importance of a careful and deliberate approach to digiital asset regulation. The exchange has consistently maintained that the allegations brought forth by the SEC are unfounded and looks forward to an expedited resolution.
Earlier reports from COINOTAG indicated that Binance and the SEC have collaborated to file a motion for the delay, citing the establishment of a new cryptocurrency working group within the SEC. This group could potentially influence the ongoing proceedings, reinforcing the notion that regulatory frameworks for digital currencies continue to evolve. Following the completion of the 60-day pause, both Binance and the SEC are expected to release a joint status report to evaluate the necessity of extending the delay.
Source: https://en.coinotag.com/breakingnews/binance-responds-as-sec-pauses-case-review-for-60-days-aiming-for-compliance-and-trust-in-crypto/