Binance and the US Securities and Stock Exchange Commission (SEC) submitted a joint petition for a 60 -day interruption of the ongoing litigation process. This development is carefully followed by market actors who closely follow the case process. It is stated that both sides will use this period as an opportunity to evaluate the current situation of the legal process and to investigate potential solutions.
Task strength and possible effects on the case
Behind the 60 -day break in the case process, the new task force established by SEC President Mark Uyeda has an impact. This task strength aims to evaluate the regulations for the crypto money market and to make wider analysis for existing cases. It is emphasized that Hester Peirce, a SEC member of the SEC, plays an important role in the creation of the task force.
The report, which will be submitted by the task force, is expected to be a decisive factor in the Binance-SEC case. Experts draw attention to the potential of such reports to change the course of the case. At the end of the process, the results of the report can be evaluated and new decisions can be made on how to continue the case.
Fox Business reporter Eleanor Terrett said that such developments may also be effective on other cases in the crypto currency sector. According to Terrett, changes in the course of similar characteristics may be experienced and more sides may turn to search for solutions.
Binance and SEC’s joint strategy
Binance and SEC’s petition presented more efficiently and the resources will be used more effectively. This will allow the possibility of an early solution between the parties to be evaluated. In particular, it is thought that the discussions on whether the tokens mentioned earlier are investment or commodities will be reconsidered.
In January, Binance and founder Changpeng Zhao objected to the complaint petition of SEC and argued that the complaint petition did not meet the criteria determined in the legal framework. In this objection, it was underlined that the financial category of the relevant tokens was not clear.
At the end of the interim request, the parties are likely to present a new extension request. This increases attention to both the case process and other important cases in the crypto money market. Sector experts foresee that a clearer picture will emerge after duty force work.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
