SEC Seeks 60-Day Delay in Binance Litigation as Cryptocurrency Guidelines Are Formulated

According to a report from COINOTAG on April 12, the U.S. **Securities and Exchange Commission (SEC)** is seeking another **60-day extension** in its ongoing litigation with **Binance**, as confirmed by Coindesk. The SEC initially filed a lawsuit against Binance in 2023, alleging violations of federal **securities laws**. Following the re-election of former U.S. President **Donald Trump**, the SEC, now led by **Acting Chairman Mark Uyeda**, submitted a request for a temporary pause in the proceedings that is expected to lapse next Monday. The agency is currently establishing a **cryptocurrency working group** to formulate clearer frameworks regarding the application of securities laws to digital assets. In the recent court filing, the attorneys noted that the outcome of these discussions may influence the SEC’s legal stance, thus justifying their plea for an additional **stay** of proceedings. They emphasized that this extension would be beneficial for maintaining judicial efficiency and thorough evaluation of the situation.