SEC's New Crypto Task Force Hopes to Resolve Longstanding Disputes as Coinbase Case Drags On
The U.S. Securities and Exchange Commission (SEC) has taken legal action against Coinbase, alleging unregistered securities offerings. Meanwhile, the SEC's new crypto task force is sparking hopes for resolution in longstanding cryptocurrency disputes.
In June 2023, the SEC initiated a lawsuit against Coinbase, claiming it offered securities without proper registration. The case is currently under evaluation, with the SEC recently requesting an additional 28 days to assess Coinbase's appeal, pushing the deadline to March 14, 2025.
The formation of the SEC's new crypto task force has raised speculation that prolonged legal disputes against major cryptocurrency firms, like the Coinbase case, may soon reach resolution. While the head of the task force is not explicitly named, notable figures linked to crypto regulatory and enforcement efforts include Kyle Armstrong and Adrian Cheek.
In a separate development, the SEC and Binance have jointly requested a 60-day pause in their lawsuit, with a report to follow determining if the stay should be extended. The SEC's review of digital asset issues is ongoing, requiring more time to complete its response to Coinbase's petition.
The SEC's legal action against Coinbase continues, with an extended deadline for evaluation. The new crypto task force brings hope for resolution in longstanding cryptocurrency disputes, though the head of the task force remains unnamed. Meanwhile, the SEC and Binance have paused their lawsuit, awaiting a report to decide if the stay should be extended.
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